Illinois · 104th session
Amends the Property Tax Code. Increases the maximum reduction for the general homestead exemption to $50,000 in counties with 3,000,000 or more inhabitants. Provides that for taxable years 2025 through 2027, the property tax liability for homestead property in Cook County that contains a single-family home or a multi-unit residential dwelling with fewer than 3 units shall not exceed the adjusted property tax liability for the property for the applicable tax year. Effective immediately.
Rule 19(a) / Re-referred to Rules Committee (2025-03-21)