HB3509 - PROP TX-GENERAL HOMESTEAD
Illinois - 103rd General Assembly
Introduced byCurtis J. Tarver
Last updated over 1 year ago
1 Co-Sponsor
Amends the Property Tax Code. Increases the maximum reduction for the general homestead exemption to $50,000 in counties with 3,000,000 or more inhabitants. Provides that for taxable years 2024 through 2026, the property tax liability for homestead property in Cook County that contains a single-family home or a multi-unit residential dwelling with fewer than 3 units shall not exceed the adjusted property tax liability for the property for the applicable tax year. Effective immediately.
STATUS
Introduced
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