SB3540Introduced in the Senate
PROP TX-ASSESSMENT LIMIT
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
Filed with Secretary by Sen. Chapin Rose
First Reading
Referred to Assignments
Added as Co-Sponsor Sen. Darby A. Hills
Added as Co-Sponsor Sen. Dave Syverson
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