state_legiscan_drain · IL
PROP TX-ABATEMENT-RESIDENTIAL
February 6, 2025
Summary
If enacted, this bill would authorize counties with fewer than 300,000 inhabitants to grant property tax abatements for new residential construction developments. This could reduce tax escrow requirements for borrowers and affect property valuation considerations for lenders in eligible counties.
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Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=1831&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Common questions
- What does "PROP TX-ABATEMENT-RESIDENTIAL" cover?
- If enacted, this bill would authorize counties with fewer than 300,000 inhabitants to grant property tax abatements for new residential construction…
- When was it published?
- It was published on February 6, 2025.