From State Rep. Joe Sosnowski:
SPRINGFIELD, Ill. – Addressing the #1 affordability issue facing Illinois homeowners, new legislation has been filed by State Representative Joe Sosnowski (R-Rockford) to stop large property tax increases.
His proposal is to base property taxes on the equalized assessed value (EAV) of a home the year it is purchased; a cost that would not go up for property tax assessment purposes for as long as a person owns their home.
House Bill 4626 would make housing more affordable for first-time homebuyers, working families, and seniors on fixed incomes alike by providing cost-certainty for property tax bills that would never increase based on increased values.
“Depending on which study you look at, Illinois homeowners pay the highest or second-highest property taxes in the nation; meanwhile other states like Florida, Indiana, and North Dakota are considering plans to eliminate or phase out property taxes altogether,” said Representative Sosnowski.
“Families should not have to pay higher taxes every year just because their home increases in value. Illinois needs property tax relief and we need it now.”
Illinois has the highest number of local taxing bodies in the nation, which combined drive upward pressure on property tax bills year after year.
Passage of House Bill 4626 would force a limit on the spending growth of local taxing bodies and prevent families and seniors from being taxed out of their homes due to rapidly rising and unaffordable property taxes.
Representative Sosnowski also has companion legislation that would cap annual property tax increases at 1% for seniors, House Bill 3723 or 3% for all homeowners, House Bill 3724.
Lawmakers return to Springfield this week for the 2026 Spring Session where new bills can be assigned to committees and scheduled a hearing.
For questions or more information, please call Representative Sosnowski’s office at (815) 547-3436.
