Illinois House Speaker Michael Madigan did not call for a property tax cap bill last week as its chief backer, Cook County Assessor James Houlihan had hoped. Houlihan’s proposal would cap increases on tax reassessments for owner-occupied homes in Cook County at 7 percent a year.
Madigan reportedly wants to extend the tax cap statewide and limit assessment increases to 5 percent – moves that may make the measure tougher to pass.
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