Illinois 2025-2026 Regular Session

Illinois House Bill HB4011

Introduced
3/3/25  

Caption

PROP TX-ASSESSMENT LIMIT

Impact

One significant aspect of HB4011 is its preemption of the power of home rule units to impose their own property tax assessments. This effectively limits local authorities from setting higher assessment limits, thereby standardizing tax treatment across all counties regardless of local governance. This measure is likely to lead to changes in local revenue generation methods and could alter the way municipalities fund essential services relying on property taxes.

Summary

House Bill 4011 proposes amendments to the Property Tax Code impacting the equalized assessed value of properties in Illinois. Under this bill, during a general assessment year, the assessed value of property will not exceed the value from the previous general assessment year, increased by the lesser of 3% of the previous assessed value or the percentage change in the Consumer Price Index (CPI) for the 12 months leading up to that year. This adjustment is aimed at controlling property tax increases and making property assessments more predictable for owners across the state.

Contention

Critics of the bill may raise concerns regarding the implications of restricting local control over tax assessments. Opponents argue that such a move undermines the ability of municipalities to respond to localized economic conditions and community needs. As property values and costs of living can vary significantly from one area to another, limiting assessment increases could hinder local governments' flexibility in budgeting and addressing specific community challenges. As the situation evolves, the debate will likely continue around the balance between state-level uniformity and local governance.

Companion Bills

No companion bills found.

Previously Filed As

IL HB4716

PROP TX-ASSESSMENT LIMIT

IL HB4695

PROP TX-LIMITATION

IL SB2695

PROPERTY TAX-ASSESSMENT CAP

IL HB3573

PROP TX-ASSESSMENT

IL HB3439

PROP TX-ASSESSMENT

IL HB4354

PROP TX-EXTENSIONS

IL HB1288

PROP TX-INCOME PROPERTY

IL SB1322

PROP TX-INCOME PROPERTY

IL HB3177

TAXPAYER PROTECTION ACT

IL HB5183

PROP TX-ABATEMENTS

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