State Representative Brad Halbrook (R-Shelbyville) has introduced three bills aimed at reducing property taxes for Illinois homeowners and businesses.

The first proposal, House Bill 1495, would create a $6 billion special property tax relief fund to provide one-time assistance to eligible homeowners. Homeowners would qualify if they occupy a single-family residence for which they are responsible for paying property taxes.

House Bill 1496 seeks to address significant increases in assessed property values that have led to sharp rises in property taxes across the state. The bill would cap annual increases in assessed property value at 1% for residential properties and 2% for commercial properties starting in 2026. Properties undergoing improvements would be exempt from the cap.

The third measure, House Bill 1497, would freeze property tax levies at 2025 levels for a five-year period, covering levy years 2026 through 2030.

Illinois has long been criticized for its high property tax burden. A recent study by SmartAsset ranked Peoria and Rockford as the top two cities in the nation with the highest property taxes. The state consistently ranks as having the second-highest property tax rates in the country.

The proposed legislation aims to ease the financial strain on property owners and encourage local governments to find cost-saving measures during the tax freeze period. The bills are currently awaiting committee assignments for further consideration.