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Illinois House Bill HB1728

Illinois 2025-2026 Regular Session

Illinois House Bill HB1728 Compare Versions

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11 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1728 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-177 Amends the Property Tax Code. Provides that the long-time occupant homestead exemption applies in all counties beginning with taxable year 2026. Effective immediately. LRB104 03127 HLH 13148 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1728 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-177 35 ILCS 200/15-177 Amends the Property Tax Code. Provides that the long-time occupant homestead exemption applies in all counties beginning with taxable year 2026. Effective immediately. LRB104 03127 HLH 13148 b LRB104 03127 HLH 13148 b A BILL FOR
22 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1728 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED:
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55 Amends the Property Tax Code. Provides that the long-time occupant homestead exemption applies in all counties beginning with taxable year 2026. Effective immediately.
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1111 1 AN ACT concerning revenue.
1212 2 Be it enacted by the People of the State of Illinois,
1313 3 represented in the General Assembly:
1414 4 Section 5. The Property Tax Code is amended by changing
1515 5 Section 15-177 as follows:
1616 6 (35 ILCS 200/15-177)
1717 7 Sec. 15-177. The long-time occupant homestead exemption.
1818 8 (a) Qualified If the county has elected, under Section
1919 9 15-176, to be subject to the provisions of the alternative
2020 10 general homestead exemption, then, for taxable years 2007 and
2121 11 thereafter, regardless of whether the exemption under Section
2222 12 15-176 applies, qualified homestead property is entitled to an
2323 13 annual homestead exemption equal to a reduction in the
2424 14 property's equalized assessed value calculated as provided in
2525 15 this Section. If the county has elected, under Section 15-176,
2626 16 to be subject to the provisions of the alternative general
2727 17 homestead exemption, then this Section applies beginning in
2828 18 taxable year 2007, regardless of whether the exemption under
2929 19 Section 15-176 applies. In all other counties, this Section
3030 20 applies beginning in taxable year 2026.
3131 21 (b) As used in this Section:
3232 22 "Adjusted homestead value" means the lesser of the
3333 23 following values:
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3737 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1728 Introduced , by Rep. Amy Elik SYNOPSIS AS INTRODUCED:
3838 35 ILCS 200/15-177 35 ILCS 200/15-177
3939 35 ILCS 200/15-177
4040 Amends the Property Tax Code. Provides that the long-time occupant homestead exemption applies in all counties beginning with taxable year 2026. Effective immediately.
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6868 1 (1) The property's base homestead value increased by:
6969 2 (i) 10% for each taxable year after the base year through
7070 3 and including the current tax year for qualified taxpayers
7171 4 with a household income of more than $75,000 but not
7272 5 exceeding $100,000; or (ii) 7% for each taxable year after
7373 6 the base year through and including the current tax year
7474 7 for qualified taxpayers with a household income of $75,000
7575 8 or less. The increase each year is an increase over the
7676 9 prior year; or
7777 10 (2) The property's equalized assessed value for the
7878 11 current tax year minus the general homestead deduction.
7979 12 "Base homestead value" means:
8080 13 (1) if the property did not have an adjusted homestead
8181 14 value under Section 15-176 for the base year, then an
8282 15 amount equal to the equalized assessed value of the
8383 16 property for the base year prior to exemptions, minus the
8484 17 general homestead deduction, provided that the property's
8585 18 assessment was not based on a reduced assessed value
8686 19 resulting from a temporary irregularity in the property
8787 20 for that year; or
8888 21 (2) if the property had an adjusted homestead value
8989 22 under Section 15-176 for the base year, then an amount
9090 23 equal to the adjusted homestead value of the property
9191 24 under Section 15-176 for the base year.
9292 25 "Base year" means the taxable year prior to the taxable
9393 26 year in which the taxpayer first qualifies for the exemption
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104104 1 under this Section.
105105 2 "Current taxable year" means the taxable year for which
106106 3 the exemption under this Section is being applied.
107107 4 "Equalized assessed value" means the property's assessed
108108 5 value as equalized by the Department.
109109 6 "Homestead" or "homestead property" means residential
110110 7 property that as of January 1 of the tax year is occupied by a
111111 8 qualified taxpayer as his or her principal dwelling place, or
112112 9 that is a leasehold interest on which a single family
113113 10 residence is situated, that is occupied as a residence by a
114114 11 qualified taxpayer who has a legal or equitable interest
115115 12 therein evidenced by a written instrument, as an owner or as a
116116 13 lessee, and on which the person is liable for the payment of
117117 14 property taxes. Residential units in an apartment building
118118 15 owned and operated as a cooperative, or as a life care
119119 16 facility, which are occupied by persons who hold a legal or
120120 17 equitable interest in the cooperative apartment building or
121121 18 life care facility as owners or lessees, and who are liable by
122122 19 contract for the payment of property taxes, are included
123123 20 within this definition of homestead property. A homestead
124124 21 includes the dwelling place, appurtenant structures, and so
125125 22 much of the surrounding land constituting the parcel on which
126126 23 the dwelling place is situated as is used for residential
127127 24 purposes. If the assessor has established a specific legal
128128 25 description for a portion of property constituting the
129129 26 homestead, then the homestead is limited to the property
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140140 1 within that description.
141141 2 "Household income" has the meaning set forth under Section
142142 3 15-172 of this Code.
143143 4 "General homestead deduction" means the amount of the
144144 5 general homestead exemption under Section 15-175.
145145 6 "Life care facility" means a facility defined in Section 2
146146 7 of the Life Care Facilities Act.
147147 8 "Qualified homestead property" means homestead property
148148 9 owned by a qualified taxpayer.
149149 10 "Qualified taxpayer" means any individual:
150150 11 (1) who, for at least 10 continuous years as of
151151 12 January 1 of the taxable year, has occupied the same
152152 13 homestead property as a principal residence and domicile
153153 14 or who, for at least 5 continuous years as of January 1 of
154154 15 the taxable year, has occupied the same homestead property
155155 16 as a principal residence and domicile if that person
156156 17 received assistance in the acquisition of the property as
157157 18 part of a government or nonprofit housing program; and
158158 19 (2) who has a household income of $100,000 or less.
159159 20 (c) The base homestead value must remain constant, except
160160 21 that the assessor may revise it under any of the following
161161 22 circumstances:
162162 23 (1) If the equalized assessed value of a homestead
163163 24 property for the current tax year is less than the
164164 25 previous base homestead value for that property, then the
165165 26 current equalized assessed value (provided it is not based
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176176 1 on a reduced assessed value resulting from a temporary
177177 2 irregularity in the property) becomes the base homestead
178178 3 value in subsequent tax years.
179179 4 (2) For any year in which new buildings, structures,
180180 5 or other improvements are constructed on the homestead
181181 6 property that would increase its assessed value, the
182182 7 assessor shall adjust the base homestead value with due
183183 8 regard to the value added by the new improvements.
184184 9 (d) The amount of the exemption under this Section is the
185185 10 greater of: (i) the equalized assessed value of the homestead
186186 11 property for the current tax year minus the adjusted homestead
187187 12 value; or (ii) the general homestead deduction.
188188 13 (e) In the case of an apartment building owned and
189189 14 operated as a cooperative, or as a life care facility, that
190190 15 contains residential units that qualify as homestead property
191191 16 of a qualified taxpayer under this Section, the maximum
192192 17 cumulative exemption amount attributed to the entire building
193193 18 or facility shall not exceed the sum of the exemptions
194194 19 calculated for each unit that is a qualified homestead
195195 20 property. The cooperative association, management firm, or
196196 21 other person or entity that manages or controls the
197197 22 cooperative apartment building or life care facility shall
198198 23 credit the exemption attributable to each residential unit
199199 24 only to the apportioned tax liability of the qualified
200200 25 taxpayer as to that unit. Any person who willfully refuses to
201201 26 so credit the exemption is guilty of a Class B misdemeanor.
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212212 1 (f) When married persons maintain separate residences, the
213213 2 exemption provided under this Section may be claimed by only
214214 3 one such person and for only one residence. No person who
215215 4 receives an exemption under Section 15-172 of this Code may
216216 5 receive an exemption under this Section. No person who
217217 6 receives an exemption under this Section may receive an
218218 7 exemption under Section 15-175 or 15-176 of this Code.
219219 8 (g) In the event of a sale or other transfer in ownership
220220 9 of the homestead property between spouses or between a parent
221221 10 and a child, the exemption under this Section remains in
222222 11 effect if the new owner has a household income of $100,000 or
223223 12 less.
224224 13 (h) In the event of a sale or other transfer in ownership
225225 14 of the homestead property other than subsection (g) of this
226226 15 Section, the exemption under this Section shall remain in
227227 16 effect for the remainder of the tax year and be calculated
228228 17 using the same base homestead value in which the sale or
229229 18 transfer occurs.
230230 19 (i) To receive the exemption, a person must submit an
231231 20 application to the county assessor during the period specified
232232 21 by the county assessor.
233233 22 The county assessor shall annually give notice of the
234234 23 application period by mail or by publication.
235235 24 The taxpayer must submit, with the application, an
236236 25 affidavit of the taxpayer's total household income, marital
237237 26 status (and if married the name and address of the applicant's
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248248 1 spouse, if known), and principal dwelling place of members of
249249 2 the household on January 1 of the taxable year. The Department
250250 3 shall establish, by rule, a method for verifying the accuracy
251251 4 of affidavits filed by applicants under this Section, and the
252252 5 Chief County Assessment Officer may conduct audits of any
253253 6 taxpayer claiming an exemption under this Section to verify
254254 7 that the taxpayer is eligible to receive the exemption. Each
255255 8 application shall contain or be verified by a written
256256 9 declaration that it is made under the penalties of perjury. A
257257 10 taxpayer's signing a fraudulent application under this Act is
258258 11 perjury, as defined in Section 32-2 of the Criminal Code of
259259 12 2012. The applications shall be clearly marked as applications
260260 13 for the Long-time Occupant Homestead Exemption and must
261261 14 contain a notice that any taxpayer who receives the exemption
262262 15 is subject to an audit by the Chief County Assessment Officer.
263263 16 (j) Notwithstanding Sections 6 and 8 of the State Mandates
264264 17 Act, no reimbursement by the State is required for the
265265 18 implementation of any mandate created by this Section.
266266 19 (Source: P.A. 97-1150, eff. 1-25-13.)
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