CARY – State Representative David McSweeney (R-Barrington Hills) has filed House Bill 95 as chief sponsor; a measure that would freeze property tax levies for a three-year period.
“For years now, so many of us continue to see the market value of our home decline while our property taxes go up,” said McSweeney. “We need meaningful property tax relief because hard-working families are struggling.”
Under current law, property tax extensions in non-home rule counties are effectively capped by the rise in the Consumer Price index. House Bill 95 would reset the formula to ensure a 0% property tax levy increase.
“I will be working with my colleagues on both sides of the aisle to make sure this common sense bill gets passed on behalf of the taxpayers,” added McSweeney.
Rep. McSweeney filed the legislation on January 9th. The bill has now advanced to be heard in the Revenue and Finance Committee in which McSweeney is a member.
