East Central Reporter

Representative Halbrook has introduced three legislative bills aimed at reducing property taxes in Illinois. The proposed measures seek to address concerns over rising tax burdens on homeowners and businesses across the state.

The first bill, HB1495, proposes the creation of a $6 billion special property tax relief fund. This fund is designed to provide one-time relief to eligible homeowners who occupy a single-family residence and are responsible for paying the associated property taxes.

To tackle the issue of significant increases in assessed property values that have led to doubled property taxes for some owners, HB 1496 aims to limit these annual increases. If enacted, this bill would cap yearly assessment increases at 1% for residential properties and 2% for business properties starting in 2026. However, this limitation would not apply to properties that have undergone improvements.

The third proposal, HB 1497, seeks to freeze property tax levies at their 2025 levels for levy years spanning from 2026 to 2030.

"Nearly every local government needs to figure out how to save money. They need to find efficiencies and stop unnecessary operations," stated Rep. Halbrook. He expressed concern over what he termed "mission creep" by local governments and emphasized his commitment to restoring the local government distributive fund to its original percentage of income tax collections while opposing new mandates on schools or cities.

A recent study by SmartAsset highlighted Peoria and Rockford, Illinois as having the highest property taxes in the nation, with Illinois consistently ranking second highest overall in terms of property tax burden.

Rep. Halbrook concluded by stating, "It’s time to stop talking about property tax relief and start delivering on it. We do not need another task force or study. We need government at all levels to scale back their budgets and we need everyone to be partners in delivering this relief."