103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED: 35 ILCS 200/18-161 new Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately. LRB103 35287 HLH 65320 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED: 35 ILCS 200/18-161 new 35 ILCS 200/18-161 new Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately. LRB103 35287 HLH 65320 b LRB103 35287 HLH 65320 b A BILL FOR
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-161 new 35 ILCS 200/18-161 new
35 ILCS 200/18-161 new
Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately.
LRB103 35287 HLH 65320 b LRB103 35287 HLH 65320 b
LRB103 35287 HLH 65320 b
A BILL FOR
HB4225LRB103 35287 HLH 65320 b HB4225 LRB103 35287 HLH 65320 b
HB4225 LRB103 35287 HLH 65320 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by adding
5 Section 18-161 as follows:
6 (35 ILCS 200/18-161 new)
7 Sec. 18-161. Taxing district extension limitation.
8 (a) Notwithstanding any other provision of law, beginning
9 in taxable year 2024, no taxing district may levy a tax on any
10 parcel of real property under this Code that is more than 108%
11 of the tax levied by that taxing district on that property in
12 the immediately preceding taxable year unless (i) the increase
13 is attributable to substantial improvements to the property,
14 (ii) the taxing district did not levy a tax against the
15 property in the previous taxable year, or (iii) the increase
16 is attributable to a special service area.
17 (b) A taxing district may elect to be exempt from the
18 provisions of subsection (a) for one or more taxable years if
19 the exemption is approved by a referendum held before January
20 1 of the first taxable year during which the exemption
21 applies. Referenda shall be conducted at a regularly scheduled
22 election held in accordance with the Election Code. The
23 question shall be presented in substantially the following
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-161 new 35 ILCS 200/18-161 new
35 ILCS 200/18-161 new
Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately.
LRB103 35287 HLH 65320 b LRB103 35287 HLH 65320 b
LRB103 35287 HLH 65320 b
A BILL FOR
35 ILCS 200/18-161 new
LRB103 35287 HLH 65320 b
HB4225 LRB103 35287 HLH 65320 b
HB4225- 2 -LRB103 35287 HLH 65320 b HB4225 - 2 - LRB103 35287 HLH 65320 b
HB4225 - 2 - LRB103 35287 HLH 65320 b
1 form:
2 "For (taxable years), shall (taxing district) be
3 exempt from the provisions of Section 18-161 of the
4 Property Tax Code, which limits increases in the taxes
5 levied by the taxing against real property to 8% per
6 taxable year?"
7 The taxing district may include the following as
8 supplemental information on the ballot:
9 "A "yes" vote means that (taxing district) would be
10 allowed to increase the amount of taxes levied against
11 each parcel of property by more than 8%."
12 The votes must be recorded as "Yes" or "No".
13 If a majority of voters voting on the issue approves the
14 exemption, then the taxing district shall be exempt from the
15 provisions of this Section for the taxable years specified.
16 (c) As used in this Section:
17 "Taxing district" has the same meaning provided in Section
18 1-150, except that "taxing district" does not include home
19 rule units.
HB4225 - 2 - LRB103 35287 HLH 65320 b