HB4010 amends the Property Tax Code to limit tax increases for taxing districts in Illinois.
HB4010 amends the Property Tax Code to limit tax increases for taxing districts in Illinois. Beginning in taxable year 2026, no taxing district may levy a tax on any parcel of real property that exceeds 105% of the base amount unless the increase is due to substantial improvements or other specified reasons. The "base amount" is defined as the tax levied by the taxing district on the property in the immediately preceding taxable year. A taxing district may opt out of these provisions if approved by a referendum.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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