Bill Text: IL HB1199 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that, notwithstanding any other provision of law, beginning in taxable year 2026, no county clerk may extend against any property an annual property tax that exceeds the amount generated by multiplying the property tax liability for the property in the immediately preceding taxable year by one plus the percentage increase, if any, in the Consumer Price Index for the 12-month period ending in September of the immediately preceding taxable year, unless the increase in the property tax liability is the result of improvements to the property or the result of the removal of one or more exemptions that were granted with respect to the property for the immediately preceding taxable year. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2025-01-09 - Referred to Rules Committee [HB1199 Detail]

Download: Illinois-2025-HB1199-Introduced.html

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104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1199 Introduced , by Rep. Rita Mayfield SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-105.1 new
Amends the Property Tax Code. Provides that, notwithstanding any other provision of law, beginning in taxable year 2026, no county clerk may extend against any property an annual property tax that exceeds the amount generated by multiplying the property tax liability for the property in the immediately preceding taxable year by one plus the percentage increase, if any, in the Consumer Price Index for the 12-month period ending in September of the immediately preceding taxable year, unless the increase in the property tax liability is the result of improvements to the property or the result of the removal of one or more exemptions that were granted with respect to the property for the immediately preceding taxable year. Effective immediately.
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A BILL FOR
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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 18-105.1 as follows:
(35 ILCS 200/18-105.1 new)
Sec. 18-105.1. Limit on property tax extensions.
Notwithstanding any other provision of law, beginning in
taxable year 2026, no county clerk may extend against any
property an annual property tax that exceeds the amount
generated by multiplying the property tax liability for the
property in the immediately preceding taxable year by one plus
the percentage increase, if any, in the Consumer Price Index
for the 12-month period ending in September of the immediately
preceding taxable year, unless the increase in the property
tax liability over the immediately preceding taxable year is
the result of improvements to the property or the result of the
removal of one or more exemptions that were granted with
respect to the property for the immediately preceding taxable
year. If the county clerk is required to reduce the amount
extended against any property under the provisions of this
Section, the county clerk shall proportionally reduce the
extension for each taxing district that levies property taxes

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against the property. As used in this Section, "consumer price
index" means the index published by the Bureau of Labor
Statistics of the United States Department of Labor that
measures the average change in prices of goods and services
purchased by all urban consumers, United States city average,
all items, 1982-84 = 100.