104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1862 Introduced 2/5/2025, by Sen. Neil Anderson SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-177.1 new30 ILCS 805/8.49 new Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. LRB104 08380 HLH 18431 b STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY A BILL FOR 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1862 Introduced 2/5/2025, by Sen. Neil Anderson SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-177.1 new30 ILCS 805/8.49 new 35 ILCS 200/15-177.1 new 30 ILCS 805/8.49 new Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. LRB104 08380 HLH 18431 b LRB104 08380 HLH 18431 b STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY A BILL FOR
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1862 Introduced 2/5/2025, by Sen. Neil Anderson SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-177.1 new30 ILCS 805/8.49 new 35 ILCS 200/15-177.1 new 30 ILCS 805/8.49 new
35 ILCS 200/15-177.1 new
30 ILCS 805/8.49 new
Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
LRB104 08380 HLH 18431 b LRB104 08380 HLH 18431 b
LRB104 08380 HLH 18431 b
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY
A BILL FOR
SB1862LRB104 08380 HLH 18431 b SB1862 LRB104 08380 HLH 18431 b
SB1862 LRB104 08380 HLH 18431 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 15-177.1 as follows:
6 (35 ILCS 200/15-177.1 new)
7 Sec. 15-177.1. The 30-year property homestead exemption.
8 (a) Notwithstanding any other provision of law, beginning
9 with taxable year 2025 and each taxable year thereafter,
10 qualified homestead property that has been continuously owned,
11 used, and occupied as the primary residence by a qualified
12 taxpayer for at least 30 years any time prior to January 1 of
13 the taxable year for which the exemption would apply is exempt
14 from taxation under this Code.
15 (b) Each taxpayer who has been granted an exemption under
16 this Section must reapply on an annual basis. The applications
17 shall be clearly marked as applications for the 30-year
18 property homestead exemption. The assessor or chief county
19 assessment officer shall annually give notice of the
20 application period by mail or by publication. Application must
21 be made during the application period in effect for the county
22 in which the property is located. The assessor or chief county
23 assessment officer may determine the eligibility of
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 SB1862 Introduced 2/5/2025, by Sen. Neil Anderson SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-177.1 new30 ILCS 805/8.49 new 35 ILCS 200/15-177.1 new 30 ILCS 805/8.49 new
35 ILCS 200/15-177.1 new
30 ILCS 805/8.49 new
Amends the Property Tax Code. Establishes a homestead exemption for qualified homestead property that has been continuously owned, used, and occupied as the primary residence by the qualified taxpayer for at least 30 years any time prior to January 1 of the taxable year for which the exemption would apply. Requires taxpayers who have been granted an exemption to reapply on an annual basis. Provides that the assessor or chief county assessment officer may determine the eligibility of residential property to receive the homestead exemption by application, visual inspection, questionnaire, or other reasonable methods. Sets forth provisions concerning the review of exemptions granted under the provisions. Defines "qualified homestead property" and "qualified taxpayer". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
LRB104 08380 HLH 18431 b LRB104 08380 HLH 18431 b
LRB104 08380 HLH 18431 b
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY
A BILL FOR
35 ILCS 200/15-177.1 new
30 ILCS 805/8.49 new
LRB104 08380 HLH 18431 b
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY
SB1862 LRB104 08380 HLH 18431 b
SB1862- 2 -LRB104 08380 HLH 18431 b SB1862 - 2 - LRB104 08380 HLH 18431 b
SB1862 - 2 - LRB104 08380 HLH 18431 b
1 residential property to receive the homestead exemption
2 provided by this Section by application, visual inspection,
3 questionnaire, or other reasonable methods, including the
4 requirement for additional documentation from the applicant.
5 The assessor or chief county assessment officer may enter into
6 intergovernmental agreements with other governmental entities
7 to establish information sharing agreements for the purpose of
8 verifying applications made under this Section. The chief
9 county assessment official shall conduct, by no later than
10 December 31 of the first year of each reassessment cycle, as
11 determined by Section 9-215 or Section 9-220, whichever
12 applies, a review of all exemptions granted under this Section
13 for the preceding reassessment cycle. The review shall be
14 designed to ascertain whether any 30-year property homestead
15 exemptions have been granted erroneously.
16 (c) As used in this Section:
17 "Qualified homestead property" means real property located
18 in the State that has been granted an exemption under this
19 Section and that, as of January 1 of the taxable year:
20 (1) is residential property that is owned and occupied
21 by a qualified taxpayer as the qualified taxpayer's
22 principal residence and domicile; or
23 (2) contains a single-family residence that is
24 occupied as a principal residence and domicile by a
25 qualified taxpayer who has a legal or equitable interest
26 in the property as a lessee, as evidenced by a written
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1 instrument, and on which the qualified taxpayer is liable
2 for the payment of property taxes.
3 "Qualified taxpayer" means an individual who, for at
4 least 30 continuous years as of January 1 of the taxable
5 year, has occupied the same homestead property as a
6 principal residence and domicile.
7 Section 90. The State Mandates Act is amended by adding
8 Section 8.49 as follows:
9 (30 ILCS 805/8.49 new)
10 Sec. 8.49. Exempt mandate. Notwithstanding Sections 6 and
11 8 of this Act, no reimbursement by the State is required for
12 the implementation of any mandate created by this amendatory
13 Act of the 104th General Assembly.
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