Sangamon Sun

Illinois State Representative Mike Coffey (R-Springfield) has announced his support for several bills aimed at reducing property taxes in the state. Coffey, who was elected to the Illinois State House in 2023 to represent the 95th District after replacing Tim Butler, is backing measures he says will help make Illinois more affordable for families and businesses.

The proposed legislation includes HB1496, which would cap the valuation of residential properties during general assessment years so that it does not exceed 101% of the previous year’s value. Another bill, HB3580, would set the maximum income limitation for the low-income senior citizens assessment freeze homestead exemption at $75,000 for all qualified property starting in taxable year 2026. This measure is intended to expand relief for seniors.

HB1746 proposes increasing the general homestead exemption by defining “maximum income limitation” as $80,000 or greater beginning in 2026. In addition, HB3724 would ensure that total tax bills for properties receiving the General Homestead Exemption do not rise by more than 3% compared to the previous year.

Coffey emphasized the urgency of addressing high property taxes: "Illinois must address the crisis of high property taxes in Illinois. As property taxes and homeowners’ insurance continue to soar, it’s becoming very clear that current public policy is damaging for homeowners across the state. Rep. Coffey wants to see immediate action taken from the General Assembly to address the rising costs of owning a home…READ MORE."

Coffey's efforts come amid concerns that rising property taxes are prompting residents and businesses to leave Illinois.