Cook County Assessor Fritz Kaegi announced on Thursday, Feb. 13, that a bill has been introduced in the Illinois legislature that could provide some relief for property owners who are struggling to pay sharply higher tax bills.
The Circuit Breaker Property Tax Relief Act was filed in the Illinois Senate as SB1978 by Sen. Patrick Joyce (D-40th) and in the House as HB3808 by state Rep. Justin Slaughter (D-27).
The circuit breaker program would be funded by the state and is designed to help homeowners who see a 25% or more increase in their property tax bill from one year to the next.
If passed into law, the program would give credits to homeowners to cover up to half of the tax bill increase. It would apply to large tax bill spikes dating back to 2021. Homeowners would have to claim a General Homestead exemption, as well as meet an income eligibility limitation, to be able to apply for credits through the program.
Kaegi’s office cited an analysis by the Cook County Treasurer’s Office that found residents in the South Suburbs have been hit hardest by recent tax increases, noting that the median residential bill jumped by 19.9%.
At a news conference hosted by Kaegi on Jan. 29, Hazel Crest Mayor Vernard Alsberry was one of several South Side and South Suburban elected officials to comment on the need for the new circuit breaker law. He noted that many Black residents in the South Suburbs moved to the area so they could buy a home.
He said he’d heard from some residents whose tax bills ballooned far beyond the median rate, with some people reporting their bills went up double or even triple what they were in previous years.
“That is devastating to a person who living in their home all their lives and it’s their only asset,” he said. “The only thing they have to pass on to their families is that home.”
The South Suburbs no longer have a large enough commercial base to help offset property tax increases, so spikes hit homeowners hard, Alsberry said. Some residents are thinking about moving out of the area because they can no longer afford the taxes.
Kaegi said the proposed program would cost the state a little less than $200 million per year. He acknowledged it will be challenging to persuade legislators to approve the expense when the preliminary state budget projections call for a $3.2 billion shortfall for fiscal year 2026.
He also said it wouldn’t be a comprehensive solution but is designed to help homeowners who are hit the hardest by large increases. More needs to be done to make the property tax system more equitable.
“In terms of making our property tax system fairer, there has to be multiple different approaches that we can all work on,” he said. “I know a lot of the mayors here represent municipalities where they don’t take the maximum levy increase that’s allowed, so our units of government can exercise fiscal responsibility to make sure that the property taxes are held under control.”
One of the biggest drivers of property tax rates are school levies. He said the state has made progress increasing its share of school funding, which could provide some relief, but Illinois still trails most states.
“I think we don’t have to provide a solution for everything at once. I think we have to have in mind all the different things that could make it better,” Kaegi said. “I think this is a good start.”
He said the circuit breaker strategy is one that has been tested, with 29 other states and District of Columbia with similar laws.
Illinois previously had a similar program for senior citizens.
