Illinois legislation · 104th General Assembly
Illinois HB1496: PROP TX-LIMIT ASSESSMENTS
Status: In committee, March 27, 2026
Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB1496Introduced 1/28/2025, by Rep. Brad HalbrookSYNOPSIS AS INTRODUCED: ILCS 200/9-162 new 35 ILCS 200/9-162 new ILCS 200/9-162 new Amends the Property Tax Code…
From the introduced text, January 21, 2025:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB1496Introduced 1/28/2025, by Rep. Brad HalbrookSYNOPSIS AS INTRODUCED: ILCS 200/9-162 new 35 ILCS 200/9-162 new ILCS 200/9-162 new Amends the Property Tax Code. Provides that, beginning with the 2026assessment year, the valuation of property in any general assessment yearmay not exceed (i) 101% of the value of the property in the previous taxyear if the property is residential or (ii) 102% of the value of theproperty in the previous tax year if the property is not residential.Provides that the limitation does not apply if the increase in value is dueto an addition, modification, or improvement to the property or if therehas been a change in ownership of the property during the previous taxyear. Preempts the power of home rule units to tax. LRB104 06534 HLH 16570 b LRB104 06534 HLH 16570 b LRB104 06534 HLH 16570 b A BILL FOR HB1496LRB104 06534 HLH 16570 b HB1496 LRB104 06534 HLH 16570 b HB1496 LRB104 06534 HLH 16570 b AN ACT concerning revenue. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5.The Property Tax Code is amended by adding Section 9-162 as follows: (35 ILCS 200/9-162 new) [ADDED: Sec. 9-162. ][ADDED: Limitation on increases in valuation. ] [ADDED: Notwithstanding any other provision …
Sponsors
- Brad Halbrook (R, 107) · primary sponsor
- Martin McLaughlin (R, 52)
- Blaine Wilhour (R, 110)
- Michael Coffey (R, 95)
- Adam M. Niemerg (R, 102)
- David Friess (R, 115)
- Chris Miller (R, 101)
- Brandun Schweizer (R, 104)
- Travis Weaver (R, 93)
- John M. Cabello (R, 90)
- Bradley Fritts (R, 74)
- Nicole La Ha (R, 82)
Latest actions
- : Rule 19(a) / Re-referred to Rules Committee
- : To Tax Policy: Other Taxes Subcommittee
- : Assigned to Revenue & Finance Committee
- : Added Co-Sponsor Rep. Kevin Schmidt
- : Added Co-Sponsor Rep. Dennis Tipsword
- : Rule 19(a) / Re-referred to Rules Committee
- : To Tax Policy: Other Taxes Subcommittee
- : Added Co-Sponsor Rep. Amy L. Grant
- : Chief Co-Sponsor Changed to Rep. Blaine Wilhour
- : Added Chief Co-Sponsor Rep. Blaine Wilhour
Subjects: ILCS 35 - Revenue
Common questions
- What is HB1496?
- HB1496 is a bill in the Illinois Legislature (104th General Assembly): PROP TX-LIMIT ASSESSMENTS.
- What does HB1496 do?
- In its own words: A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB1496Introduced 1/28/2025, by Rep. Brad HalbrookSYNOPSIS AS INTRODUCED: ILCS 200/9-162 new 35 ILCS 200/9-162 new ILCS 200/9-162 new Amends the Property Tax Code…
- What is the status of HB1496?
- In committee as of March 27, 2026. Latest action: Rule 19(a) / Re-referred to Rules Committee (March 27, 2026).
- Who sponsored HB1496?
- Brad Halbrook (R, 107), with 11 co-sponsors.
- Where is the official record for HB1496?
- On the Illinois Legislature website: https://www.ilga.gov/Legislation/BillStatus?DocNum=1496&GAID=18&DocTypeID=HB&SessionID=114
Source: official Illinois record. Tracked by Delilah, AI for legislation across all 50 states and Congress.