PROP TX-ASSESSMENT LIMIT

Illinois General Assembly - Full Text of SB3540

Select Language

×

The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein.

Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet.

The English language version is always the official and authoritative version of this website.

NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window.

Choose Language

English

Afrikaans

Albanian

Arabic

Armenian

Azerbaijani

Basque

Bengali

Bosnian

Catalan

Croatian

Czech

Danish

Dutch

Esperanto

Estonian

Filipino

Finnish

French

Galician

Georgian

German

Greek

Gujarati

Haitian Creole

Hausa

Hawaiian

Hebrew

Hindi

Hungarian

Icelandic

Indonesian

Interlingua

Interlingue

Inuktitut

Irish

Italian

Japanese

Javanese

Kannada

Khmer

Korean

Latin

Latvian

Lithuanian

Luxembourgish

Macedonian

Malagasy

Malayalam

Maltese

Maori

Marathi

Myanmar

Nepali

Norwegian

Odia

Pashto

Punjabi

Romanian

Russian

Samoan

Sango

Sanskrit

Sardinian

Sindhi

Sinhala

Slovak

Slovenian

Somali

Southern Sotho

Spanish

Sundanese

Swahili

Swedish

Tamil

Telugu

Thai

Tigrinya

Tonga

Turkish

Ukrainian

Urdu

Vietnamese

Welsh

Xhosa

Yiddish

Yoruba

Zulu

Powered by
Translate

Close

Illinois General Assembly

Top Navigation Bar

Translate

Learn

Select General Assembly

Search the 104th General Assembly

Enter search terms for legislation, members, committees, or schedules.

ILGA.GOV

LEGISLATION & LAWS

Bills & Resolutions

Public Acts

Illinois Compiled Statutes

Illinois Constitution

Search Legislation

Glossary

Guide

Reports & Inquiry

Legislative Reports

Special Reports

FTP Site

Legislator Lookup

Capitol Complex Phone Numbers

Rules & Regulations

Illinois Register

Administrative Rules

Senate

Members

Schedules

Committees

Request for Remote Testimony

Journals

Transcripts

Rules

Audio/Video

FOIA Information

Senate Employment Opportunities

Media Guidelines

House

Members

Schedules

Committees

Submit testimony for House Committees

Journals

Transcripts

Rules

Audio/Video

FOIA Information

House Employment Opportunities

Log In

Mobile Top Bar

Search the 104th General Assembly

Enter keywords to search the Illinois General Assembly website.

Full Text of SB3540

Home

Legislation

Full Text

SB3540 - 104th General Assembly

Bill Status

Full Text

Votes

Witness Slips

Select Menu

Bill Status

Full Text

Votes

Witness Slips

Printer Friendly Version

Introduced

Printer Friendly Version

Introduced

Open PDF

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB3540

Introduced 2/5/2026, by Sen. Chapin Rose

SYNOPSIS AS INTRODUCED:

35 ILCS 200/9-145

Amends the Property Tax Code. Provides that the assessed value of
residential property in any general assessment year shall not exceed the
assessed value of the property in the last general assessment year
multiplied by one plus the percentage change in the Consumer Price Index
during the 12-month calendar year immediately preceding the general
assessment year for which the reassessment is conducted. Provides that the
limitation does not apply if the increase in assessment is attributable to
an addition, improvement, or modification to the property. Preempts the
power of home rule units to tax. Effective immediately.
LRB104 19527 RTM 32975 b

A BILL FOR

SB3540
LRB104 19527 RTM 32975 b
1

AN ACT concerning revenue.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The Property Tax Code is amended by changing
5
Section 9-145 as follows:

6

(35 ILCS 200/9-145)
7

Sec. 9-145.
Statutory level of assessment.

8

(a)
Except in counties with more than 200,000 inhabitants
9
which classify property for purposes of taxation, property
10
shall be valued as follows:

11

(1)

(a)
Each tract or lot of property shall be valued
12

at 33 1/3% of its fair cash value.

13

(2)

(b)
Each taxable leasehold estate shall be valued
14

at 33 1/3% of its fair cash value.

15

(3)

(c)
Each building or structure which is located on
16

the right of way of any canal, railroad or other company
17

leased or granted to another company or person for a term
18

of years, shall be valued at 33 1/3% of its fair cash
19

value.

20

(4)

(d)
Any property on which there is a coal or other
21

mine, or stone or other quarry, shall be valued at 33 1/3%
22

of its fair cash value. Oil, gas and other minerals,
23

except coal, shall have value and be assessed separately

SB3540
- 2 -
LRB104 19527 RTM 32975 b
1

at 33 1/3% of the fair cash value of such oil, gas and
2

other minerals. Coal shall be assessed separately at 33
3

1/3% of the coal reserve economic value, as provided in
4

Sections 10-170 through 10-200.

5

(5)

(e)
In the assessment of property encumbered by
6

public easement, any depreciation occasioned by such
7

easement shall be deducted in the valuation of such
8

property. Any property dedicated as a nature preserve or
9

as a nature preserve buffer under the Illinois Natural
10

Areas Preservation Act, for the purposes of this
11

paragraph, is encumbered by a public easement and shall be
12

depreciated for assessment purposes to a level at which
13

its valuation shall be $1 per acre or portion thereof.
14

(b) Notwithstanding any other provision of law, beginning
15
with the 2026 assessment year, in all counties, the assessed
16
value of residential property in any general assessment year
17
shall not exceed the assessed value of the property in the last
18
general assessment year multiplied by one plus the percentage
19
change in the Consumer Price Index during the 12-month
20
calendar year immediately preceding the general assessment
21
year for which the reassessment is conducted.

22

The limitation under this subsection (b) does not apply if
23
the increase in assessment is attributable to an addition,
24
improvement, or modification to the property or if the
25
property is sold.

26

As used in this Section, "Consumer Price Index" means the

SB3540
- 3 -
LRB104 19527 RTM 32975 b
1
index published by the Bureau of Labor Statistics of the
2
United States Department of Labor that measures the average
3
change in prices of goods and services purchased by all urban
4
consumers, United States city average, all items, 1982-84 =
5
100.

6

This subsection (b) is a denial and limitation under
7
subsection (g) of Section 6 of Article VII of the Illinois
8
Constitution on the power of home rule units to tax.

9

(c)
This Section is subject to and modified by Sections
10
10-110 through 10-140 and 11-5 through 11-65.
11
(Source: P.A. 91-497, eff. 1-1-00.)

12

Section 99.
Effective date.
This Act takes effect upon
13
becoming law.

Footer

Disclaimer

This site is maintained for the Illinois General Assembly by the
Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706.

Contact ILGA Webmaster

ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies.
Read About Cookies

ILGA.GOV

2026 ILGA.gov | All Rights Reserved |
ADA

|
Disclaimers
|
Learn

This site is maintained for the Illinois General Assembly by the
Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706.
Contact ILGA Webmaster

ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies.
Read About Cookies

ILGA.GOV

2026 ILGA.gov | All Rights Reserved |
ADA

|
Disclaimers
|
Learn