Illinois HB1496: Limits Property Tax Valuation Increases

Detected March 28th, 2026

Summary

Illinois House Bill 1496 proposes to limit annual property tax valuation increases for residential properties to 101% and non-residential properties to 102% of the previous year's value, starting with the 2026 assessment year. The bill preempts home rule units and includes exceptions for property additions, modifications, or changes in ownership.

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What changed

Illinois House Bill 1496, introduced for the 2025-2026 legislative session, seeks to amend the Property Tax Code by imposing new limitations on property tax valuations. Beginning with the 2026 assessment year, the bill stipulates that property valuations cannot exceed 101% of the prior year's value for residential properties and 102% for non-residential properties. These limitations are subject to exceptions for property additions, modifications, improvements, or changes in ownership. The bill also explicitly preempts the taxing authority of home rule units.

This proposed legislation will significantly impact property owners and local tax authorities in Illinois. Compliance officers should monitor the progress of HB1496, as its passage would introduce new valuation caps and reporting requirements for assessment years beginning in 2026. The exceptions for property improvements and ownership changes will require careful documentation and adherence to specific criteria. Furthermore, the preemption of home rule powers could lead to legal challenges and require adjustments to local tax administration practices.

What to do next

Monitor the legislative progress of HB1496.
Review current property tax assessment procedures for potential impacts.
Prepare for potential new valuation caps and reporting requirements if the bill is enacted.

Source document (simplified)

IL HB1496 | 2025-2026 | 104th General Assembly

Illinois House Bill 1496

IL State Legislature page for HB1496
- Summary
- Sponsors
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Status

Sponsorship: Partisan Bill (Republican 15)
Status: Introduced on January 21 2025 - 25% progression
Action: 2026-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Provides that, beginning with the 2026 assessment year, the valuation of property in any general assessment year may not exceed (i) 101% of the value of the property in the previous tax year if the property is residential or (ii) 102% of the value of the property in the previous tax year if the property is not residential. Provides that the limitation does not apply if the increase in value is due to an addition, modification, or improvement to the property or if there has been a change in ownership of the property during the previous tax year. Preempts the power of home rule units to tax.
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Title

PROP TX-LIMIT ASSESSMENTS

History

| Date | Chamber | Action |
| --- | --- | --- |
| 2026-03-27 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2026-02-26 | House | To Tax Policy: Other Taxes Subcommittee |
| 2026-02-24 | House | Assigned to Revenue & Finance Committee |
| 2025-10-27 | House | Added Co-Sponsor Rep. Kevin Schmidt |
| 2025-07-07 | House | Added Co-Sponsor Rep. Dennis Tipsword |
| 2025-03-21 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2025-03-03 | House | To Tax Policy: Other Taxes Subcommittee |
| 2025-03-03 | House | Added Co-Sponsor Rep. Amy L. Grant |
| 2025-02-27 | House | Chief Co-Sponsor Changed to Rep. Blaine Wilhour |
| 2025-02-27 | House | Added Chief Co-Sponsor Rep. Blaine Wilhour |
| 2025-02-27 | House | Added Chief Co-Sponsor Rep. Martin McLaughlin |
| 2025-02-27 | House | Added Co-Sponsor Rep. Nicole La Ha |
| 2025-02-27 | House | Added Co-Sponsor Rep. Bradley Fritts |
| 2025-02-27 | House | Added Co-Sponsor Rep. John M. Cabello |
| 2025-02-27 | House | Added Co-Sponsor Rep. Travis Weaver |
| 2025-02-25 | House | Added Co-Sponsor Rep. Brandun Schweizer |
| 2025-02-20 | House | Added Co-Sponsor Rep. Chris Miller |
| 2025-02-20 | House | Added Co-Sponsor Rep. David Friess |
| 2025-02-20 | House | Added Co-Sponsor Rep. Adam M. Niemerg |
| 2025-02-18 | House | Assigned to Revenue & Finance Committee |
| 2025-02-05 | House | Added Co-Sponsor Rep. Michael J. Coffey, Jr. |
| 2025-01-28 | House | Referred to Rules Committee |
| 2025-01-28 | House | First Reading |
| 2025-01-21 | House | Filed with the Clerk by Rep. Brad Halbrook |

Code Citations

| Chapter | Article | Section | Citation Type | Statute Text |
| --- | --- | --- | --- | --- |
| 35 | 200 | 9-162 | New Code | See Bill Text |

Illinois State Sources

| Type | Source |
| --- | --- |
| Summary | https://www.ilga.gov/Legislation/BillStatus?DocNum=1496&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| Text | https://www.ilga.gov/Legislation/BillStatus/FullText?LegDocId=197356&DocName=10400HB1496&DocNum=1496&DocTypeID=HB&LegID=157566&GAID=18&SessionID=114&SpecSess=&Session= |

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