IL HB2660

Caps annual property assessment increases during general reassessment years at the lesser of 3% of the prior year's assessed value or the annual Consumer Price Index change, beginning with the 2026 assessment year

Exempts properties from the assessment cap when increases result from additions, improvements, modifications, or property sales

Applies to all counties in Illinois, including those with more than 200,000 inhabitants that classify property for taxation purposes

Preempts home rule units from exercising taxing authority that would conflict with this assessment limitation

Takes effect immediately upon becoming law