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SB3540Introduced in the Senate

PROP TX-ASSESSMENT LIMIT

IntroducedSenate Assignments

Introduced by Chapin Rose, District 51

What does this bill do?

Plain-English breakdown

Writing a plain-English summary of this bill… this can take a few seconds the first time.

Official description

Amends the Property Tax Code. Provides that the assessed value of residential property in any general assessment year shall not exceed the assessed value of the property in the last general assessment year multiplied by one plus the percentage change in the Consumer Price Index during the 12-month calendar year immediately preceding the general assessment year for which the reassessment is conducted. Provides that the limitation does not apply if the increase in assessment is attributable to an addition, improvement, or modification to the property. Preempts the power of home rule units to tax. Effective immediately.

Where it stands

Added as Co-Sponsor Sen. Dave Syverson

July 9, 2026

How did lawmakers vote?

No recorded vote is available for this bill yet.

Bill history

  1. Filed with Secretary by Sen. Chapin Rose

  2. First Reading

  3. Referred to Assignments

  4. Added as Co-Sponsor Sen. Darby A. Hills

  5. Added as Co-Sponsor Sen. Dave Syverson

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