Illinois HB 2639: PROP TX-GENERAL HOMESTEAD AMT
Status: Added Co-Sponsor Rep. Kevin Schmidt (as of 2025-10-27)
State: Illinois · Session: 104th · Bill: HB 2639
Sponsors: Martin McLaughlin, Kevin Schmidt
Bill Text
• Illinois General Assembly - Full Text of HB2639 • • • • • • • • • • • • 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 HB2639 • Home • Legislation • Full Text HB2639 - 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 HB2639 Introduced 2/6/2025, by Rep. Martin McLaughlin SYNOPSIS AS INTRODUCED: 35 ILCS 200/15-175 Amends the Property Tax Code. Provides that, for taxable years 2026 and thereafter, the maximum reduction for the general homestead exemption is $10,000 in all counties. Effective immediately. LRB104 09751 HLH 19817 b A BILL FOR HB2639LRB104 09751 HLH 19817 b 1 AN ACT concerning revenue. 2 Be it enacted by the People of the State of Illinois, 3represented in the General Assembly: 4 Section 5. The Property Tax Code is amended by changing 5Section 15-175 as follows: 6 (35 ILCS 200/15-175) 7 Sec. 15-175. General homestead exemption. 8 (a) Except as provided in Sections 15-176 and 15-177, 9homestead property is entitled to an annual homestead 10exemption limited, except as described here with relation to 11cooperatives or life care facilities, to a reduction in the 12equalized assessed value of homestead property equal to the 13increase in equalized assessed value for the current 14assessment year above the equalized assessed value of the 15property for 1977, up to the maximum reduction set forth 16below. If however, the 1977 equalized assessed value upon 17which taxes were paid is subsequently determined by local 18assessing officials, the Property Tax Appeal Board, or a court 19to have been excessive, the equalized assessed value which 20should have been placed on the property for 1977 shall be used 21to determine the amount of the exemption. 22 (b) Except as provided in Section 15-176, the maximum 23reduction before taxable year 2004 shall be $4,500 in counties HB2639- 2 -LRB104 09751 HLH 19817 b 1with 3,000,000 or more inhabitants
View Illinois HB 2639 on LegisTrack → — full text, sponsors, votes, campaign finance, and cross-state matches.