Illinois 2025-2026 Regular Session

Illinois House Bill HB1496 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1496 Introduced , by Rep. Brad Halbrook SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-162 new Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax. LRB104 06534 HLH 16570 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1496 Introduced , by Rep. Brad Halbrook SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-162 new 35 ILCS 200/9-162 new Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax. LRB104 06534 HLH 16570 b LRB104 06534 HLH 16570 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1496 Introduced , by Rep. Brad Halbrook SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/9-162 new 35 ILCS 200/9-162 new
4	4	35 ILCS 200/9-162 new
5	5	Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.
6	6	LRB104 06534 HLH 16570 b LRB104 06534 HLH 16570 b
7	7	LRB104 06534 HLH 16570 b
8	8	A BILL FOR
9	9	HB1496LRB104 06534 HLH 16570 b HB1496 LRB104 06534 HLH 16570 b
10	10	HB1496 LRB104 06534 HLH 16570 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Property Tax Code is amended by adding
15	15	5 Section 9-162 as follows:
16	16
17	17
18	18
19	19	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1496 Introduced , by Rep. Brad Halbrook SYNOPSIS AS INTRODUCED:
20	20	35 ILCS 200/9-162 new 35 ILCS 200/9-162 new
21	21	35 ILCS 200/9-162 new
22	22	Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.
23	23	LRB104 06534 HLH 16570 b LRB104 06534 HLH 16570 b
24	24	LRB104 06534 HLH 16570 b
25	25	A BILL FOR
26	26
27	27
28	28
29	29
30	30
31	31	35 ILCS 200/9-162 new
32	32
33	33
34	34
35	35	LRB104 06534 HLH 16570 b
36	36
37	37
38	38
39	39
40	40
41	41
42	42
43	43
44	44
45	45	HB1496 LRB104 06534 HLH 16570 b