Illinois legislation · 104th General Assembly
Illinois SB3849: PROP TX-GENERAL HOMESTEAD-CPI
Status: Introduced, September 21, 2026
Amends the Property Tax Code. Provides that, for taxable years 2027 and thereafter, the maximum reduction for the general homestead exemption in all counties shall be the maximum reduction for the immediately preceding taxable year, increased by the percentage increase, if any, in the Consumer Price Index during the 12-month period ending on September 30 of the immediately preceding taxable year. Effective immediately.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3849Introduced 2/6/2026, by Sen. John F. CurranSYNOPSIS AS INTRODUCED: ILCS 200/15-175 35 ILCS 200/15-175 ILCS 200/15-175 Amends the Property Tax Code. Provides that, for taxable years 2027and thereafter, the maximum reduction for the general homestead exemptionin all counties shall be the maximum reduction for the immediatelypreceding taxable year, increased by the percentage increase, if any, inthe Consumer Price Index during the 12-month period ending on September 30of the immediately preceding taxable year…
From the introduced text, February 6, 2026:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3849Introduced 2/6/2026, by Sen. John F. CurranSYNOPSIS AS INTRODUCED: ILCS 200/15-175 35 ILCS 200/15-175 ILCS 200/15-175 Amends the Property Tax Code. Provides that, for taxable years 2027and thereafter, the maximum reduction for the general homestead exemptionin all counties shall be the maximum reduction for the immediatelypreceding taxable year, increased by the percentage increase, if any, inthe Consumer Price Index during the 12-month period ending on September 30of the immediately preceding taxable year. Effective immediately. LRB104 17207 HLH 30627 b LRB104 17207 HLH 30627 b LRB104 17207 HLH 30627 b A BILL FOR SB3849LRB104 17207 HLH 30627 b SB3849 LRB104 17207 HLH 30627 b SB3849 LRB104 17207 HLH 30627 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 changing Section 15-175 as follows: (35 ILCS 200/15-175) Sec. 15-175.General homestead exemption. (a) Except as provided in Sections 15-176 and 15-177, homestead property is entitled to an annual homestead exemption limited, except as described here with relation to cooperatives or life care facilities, to a reduction in the equalized assessed value of homestead property equal to the increase in equalized assessed value for the current assessment year above the equalized assessed value …