104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB3314 Introduced , by Rep. Rick Ryan SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-145 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 addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately. LRB104 11887 HLH 21978 b A BILL FOR 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB3314 Introduced , by Rep. Rick Ryan SYNOPSIS AS INTRODUCED: 35 ILCS 200/9-145 35 ILCS 200/9-145 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 addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately. LRB104 11887 HLH 21978 b LRB104 11887 HLH 21978 b A BILL FOR
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB3314 Introduced , by Rep. Rick Ryan SYNOPSIS AS INTRODUCED:
35 ILCS 200/9-145 35 ILCS 200/9-145
35 ILCS 200/9-145
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 addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.
LRB104 11887 HLH 21978 b LRB104 11887 HLH 21978 b
LRB104 11887 HLH 21978 b
A BILL FOR
HB3314LRB104 11887 HLH 21978 b HB3314 LRB104 11887 HLH 21978 b
HB3314 LRB104 11887 HLH 21978 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 changing
5 Section 9-145 as follows:
6 (35 ILCS 200/9-145)
7 Sec. 9-145. Statutory level of assessment.
8 (a) Except in counties with more than 200,000 inhabitants
9 which classify property for purposes of taxation, property
10 shall be valued as follows:
11 (1) (a) Each tract or lot of property shall be valued
12 at 33 1/3% of its fair cash value.
13 (2) (b) Each taxable leasehold estate shall be valued
14 at 33 1/3% of its fair cash value.
15 (3) (c) Each building or structure which is located on
16 the right of way of any canal, railroad or other company
17 leased or granted to another company or person for a term
18 of years, shall be valued at 33 1/3% of its fair cash
19 value.
20 (4) (d) Any property on which there is a coal or other
21 mine, or stone or other quarry, shall be valued at 33 1/3%
22 of its fair cash value. Oil, gas and other minerals,
23 except coal, shall have value and be assessed separately
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB3314 Introduced , by Rep. Rick Ryan SYNOPSIS AS INTRODUCED:
35 ILCS 200/9-145 35 ILCS 200/9-145
35 ILCS 200/9-145
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 addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.
LRB104 11887 HLH 21978 b LRB104 11887 HLH 21978 b
LRB104 11887 HLH 21978 b
A BILL FOR
35 ILCS 200/9-145
LRB104 11887 HLH 21978 b
HB3314 LRB104 11887 HLH 21978 b
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HB3314 - 2 - LRB104 11887 HLH 21978 b
1 at 33 1/3% of the fair cash value of such oil, gas and
2 other minerals. Coal shall be assessed separately at 33
3 1/3% of the coal reserve economic value, as provided in
4 Sections 10-170 through 10-200.
5 (5) (e) In the assessment of property encumbered by
6 public easement, any depreciation occasioned by such
7 easement shall be deducted in the valuation of such
8 property. Any property dedicated as a nature preserve or
9 as a nature preserve buffer under the Illinois Natural
10 Areas Preservation Act, for the purposes of this
11 paragraph, is encumbered by a public easement and shall be
12 depreciated for assessment purposes to a level at which
13 its valuation shall be $1 per acre or portion thereof.
14 (b) Notwithstanding any other provision of law, beginning
15 with the 2026 assessment year, in all counties, the assessed
16 value of residential property in any general assessment year
17 shall not exceed the assessed value of the property in the last
18 general assessment year multiplied by one plus the percentage
19 change in the Consumer Price Index during the 12-month
20 calendar year immediately preceding the general assessment
21 year for which the reassessment is conducted.
22 The limitation under this subsection (b) does not apply if
23 the increase in assessment is attributable to an addition,
24 improvement, or modification to the property or if the
25 property is sold.
26 As used in this Section, "Consumer Price Index" means the
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1 index published by the Bureau of Labor Statistics of the
2 United States Department of Labor that measures the average
3 change in prices of goods and services purchased by all urban
4 consumers, United States city average, all items, 1982-84 =
5 100.
6 This subsection (b) is a denial and limitation under
7 subsection (g) of Section 6 of Article VII of the Illinois
8 Constitution on the power of home rule units to tax.
9 (c) This Section is subject to and modified by Sections
10 10-110 through 10-140 and 11-5 through 11-65.
11 (Source: P.A. 91-497, eff. 1-1-00.)
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