summary
Introduced
02/07/2025
02/07/2025
In Committee
03/12/2026
03/12/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that, for taxable years 2026 through 2031, the total property tax liability for any parcel of residential property in Bloom, Rich, Bremen, Thornton, or Calumet township for any of those taxable years shall be limited to the lesser of (i) the actual property tax liability for the property or (ii) $5,000.
AI Summary
This bill establishes a Property Tax Reduction Pilot Program for specific townships (Bloom, Rich, Bremen, Thornton, and Calumet) in Illinois, which will limit property tax liability for residential properties during taxable years 2026 through 2031. Under this program, property owners in these townships will have their annual property tax bill capped at $5,000 or their actual property tax liability, whichever is lower. The bill amends the Property Tax Code by adding a new Division 5.2 to Article 18, creating a temporary pilot program designed to provide tax relief for residential property owners in these selected townships. This targeted approach suggests an experimental initiative to test potential property tax reduction strategies in specific local jurisdictions, potentially offering homeowners significant financial relief during the specified six-year period.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Assigned to Revenue & Finance Committee (on 03/12/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3340&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB3340.htm |
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