Senate Joint Resolution 13 (SJR13) – Property Tax Assessment Freeze

The following was a letter to the editor in yesterday’s Daily Herald. How we assess properties in Illinois is a good idea, but it won’t really do anything about your property taxes unless they limit what school districts and other taxing bodies can levy.

Senate Joint Resolution 13 (SJR13) (Property Tax Assessment Freeze) allows for property tax relief while allowing a constant revenue flow to fund state, city and county operations. This resolution calls for freezing property tax assessments for all real property owners until that property is sold to another individual.

In short, this resolution limits property taxes to 2 percent of fair market value and limits annual increases in property assessments to either 2 percent or the rate of inflation, whichever is less.