Illinois General Assembly - Bill Status for HB4225
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 Bill Status of HB4225  103rd General Assembly

Short Description:  PROP TX-EXTENSIONS

House Sponsors
Rep. Tom Weber

Last Action
DateChamber Action
  11/8/2023HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 200/18-161 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately.

DateChamber Action
  11/8/2023HouseFiled with the Clerk by Rep. Tom Weber
  11/8/2023HouseFirst Reading
  11/8/2023HouseReferred to Rules Committee

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