Illinois Senate Republicans announced on Mar. 9 a new legislative package intended to help struggling homeowners and make it more affordable to buy and keep a home in Illinois.
The initiative comes as affordability challenges continue across the state, with fewer first-time buyers entering the housing market. Lawmakers cited data from the National Association of REALTORS 2025 Profile of Home Buyers and Sellers, which shows that first-time homebuyers now make up only 21 percent of total purchases, a record low, while the average age for these buyers has reached an all-time high of 40 years.
Senators also pointed out that Illinois’ property tax burden is causing residents to move to neighboring states. Recent Census Bureau migration estimates indicate that nearly 7,500 people left Illinois for Missouri, where average property tax bills are less than half those in Illinois.
The proposed legislation includes several measures: Senate Bill 3959 would provide a $500 non-refundable tax credit for first-time homebuyers, which could be carried forward for up to five years; Senate Bill 3781 would make the Illinois Property Tax Credit refundable when filing state income taxes; Senate Bill 3782 would establish the Fairness in Property Tax Foreclosure Task Force to develop reforms after a United States Supreme Court ruling found the current system unconstitutional; Senate Bill 3849 would add annual Consumer Price Index adjustments to the General Homestead Exemption; and Senate Bill 3848 would create an income tax deduction tied to increases in homeowners insurance costs.
Senate Republicans said these proposals target major cost drivers affecting homeowners, focusing on affordability, fairness, and keeping families in their homes. Syverson, a Republican, was elected to the Illinois State Senate in 1993 to represent the state’s 35th Senate District, replacing previous state senator Christine J. Johnson according to Wikipedia.
The legislative package aims not only at immediate relief but also at long-term solutions for housing stability in Illinois.
