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IL SB3938

Bill

Official Source

Status

Introduced

2/6/2026

Primary Sponsor

Chris Balkema

Click for details

Origin

Senate

104th General Assembly

AI Summary

  • Authorizes any taxing district in Illinois to levy a site value tax on land by ordinance, in addition to existing property taxes
  • Assesses land value at 33 1/3% of fair cash value, excluding buildings, structures, improvements, and other permanent fixtures
  • Excludes the value of oil, gas, coal, and other minerals (and extraction rights) from the site value assessment
  • Requires the tax to be levied uniformly by valuation within each taxing district
  • Collection and enforcement follow existing property tax procedures, including due dates, enforcement actions, and taxpayer rights under the Property Tax Code

Legislative Description

PROPERTY TAX-SITE VALUE

Last Action

Referred to Assignments

2/6/2026

Committee Referrals

Assignments2/6/2026

Full Bill Text

No bill text available