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]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-17	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB3509

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB3509 currently on file.

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