Bill Status of HB3509 103rd General Assembly
Short Description: PROP TX-GENERAL HOMESTEAD
Rep. Curtis J. Tarver, II
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Property Tax Code. Increases the maximum reduction for the general homestead exemption to $50,000 in counties with 3,000,000 or more inhabitants. Provides that for taxable years 2024 through 2026, the property tax liability for homestead property in Cook County that contains a single-family home or a multi-unit residential dwelling with fewer than 3 units shall not exceed the adjusted property tax liability for the property for the applicable tax year. Effective immediately.