Bill Title: 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 2024 through 2026, 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-02-17 - Referred to Rules Committee [HB3509 Detail]

Text: Latest bill text (Introduced) [HTML]

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