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Thursday, July 9, 2026

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IL · SB3540INTRO · 1 COSPONSOR

PROP TX-ASSESSMENT LIMIT

Also relevant to:Homeowner
Where it is in the process
Plain-English Summary

Amends the Property Tax Code. Provides that the assessed value of residential property in any general assessment year shall not exceed the assessed value of the property in the last general assessment year multiplied by one plus the percentage change in the Consumer Price Index during the 12-month calendar year immediately preceding the general assessment year for which the reassessment is conducted. Provides that the limitation does not apply if the increase in assessment is attributable to an …

Source: OpenStates · fetched June 29, 2026

Votes
Sponsorship · 2 Sponsors
Democrat0Republican2Independent0Other0
  • R · PrimeChapin Rose
  • R · CoDarby Hills
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