Bill Would End Property Taxes In IL For Homeowners After 30 Years

ILLINOIS — State legislators are considering a bill to get rid of property taxes for homeowners who’ve lived in their houses for 30 years or more.

Senate Bill 1862 proposes the state’s property tax code be amended so that homes that have been continuously owned and occupied as the taxpayer’s primary residence for at least 30 years would receive a homestead exemption.

The bill is sponsored by state Sens. Neil Anderson, Dave Syverson and Terri Bryant, all of whom are Republicans.

“This country is founded upon freedom and property rights and at some point, you have to be able to own your property,” Anderson told The Center Square, adding he expects opposition on the bill and anticipates it will not pass but sees the legislation as "a way to keep people in Illinois.”

The state’s population is estimated to have declined by over 100,000 people in less than five years, according to the U.S. Census Bureau. There were 12.81 million Illinoisans in April 2020, and, as of July 1, 2024, that number is estimated at 12.71 million, according to the bureau.