IL SB1726

Allows taxpayers beginning with the 2022 tax year to make partial property tax payments while appealing an assessment, paying only the undisputed portion minus the amount attributable to the requested reduction in assessed value

Requires taxpayers electing partial payment to notify all taxing districts listed on their tax bill of the amount paid and their intent to appeal

Payment must be made within 60 days from the first penalty date of the final installment of taxes for the year in which the tax objection complaint is filed

If the Property Tax Appeal Board or court ruling results in additional taxes owed, the taxpayer must pay the balance plus interest at the lesser of 5% annually or the Consumer Price Index increase for the preceding calendar year

Amends the Property Tax Code by modifying Sections 16-160, 23-5, and 23-20 and adding new Sections 21-387 and 23-7; takes effect immediately upon becoming law