HB2660 amends the Illinois Property Tax Code to cap increases in property assessments resulting from a general reassessment. Beginning with the 2026 assessment year, in all counties, the increase in assessed value from reassessment could not exceed the lesser of 3% of the property’s prior-year assessed value or the percentage change in the Consumer Price Index for the prior 12 months. The bill also states that this cap would not apply when the higher assessment is due to an addition, improvement, or modification to the property, and it also excludes property that is sold.
The measure is framed as a statewide assessment-limit bill and would apply in all counties, including those with home rule authority, by expressly preempting local taxing power. It would amend Section 9-145 of the Property Tax Code and take effect immediately, making it a direct change to how reassessment growth is calculated for property tax purposes rather than changing tax rates themselves.
Impact
HB2660 would place a statutory ceiling on reassessment-driven increases in assessed value across Illinois, limiting how quickly property tax bills can rise due to reassessment. It would affect county assessors, taxpayers, and local governments that rely on assessed values to determine property tax levies, while preserving reassessment increases tied to new construction, improvements, modifications, and sales. By preempting home rule taxing authority, the bill would also restrict local governments from adopting contrary assessment rules in their own ordinances.
Sentiment
No committee transcripts or recorded votes were provided, so there is no direct evidence of debate or formal support/opposition in the available record. Based on the bill text and caption, the measure appears designed to provide property tax relief and predictability for homeowners and other property owners, which typically draws support from taxpayers and opponents from local taxing bodies concerned about revenue stability. The available context does not show any amendments, committee concerns, or roll-call outcomes.
Contention
The main policy tension is between taxpayer protection and local revenue flexibility. Supporters would likely favor the cap as a way to prevent sharp assessment spikes after reassessment and to tie increases to inflation or a modest 3% ceiling, while critics may argue that limiting assessment growth could constrain school districts, municipalities, and counties that depend on property tax revenue. Another point of contention is the bill’s statewide preemption of home rule authority, which removes local discretion over assessment limits.