SPRINGFIELD – “There is good news and bad news. The good news is that the legislature extended the property tax cap that Cook County homeowners have enjoyed since 2004.
“The bad news, and what they won’t tell you, is at a time when the city of Chicago is considering the largest property tax increase in history, the legislators voted to begin phasing out property tax relief in the second year and completely take it away in the third year. That’s going backward, not forward. Homeowners deserve real meaningful property tax caps that will last for more than just one year.
“I am going to continue to work with Senate President Emil Jones and Cook County Assessor Jim Houlihan to increase property tax relief for homeowners and make it permanent. Unfortunately, the Illinois House, led by Speaker Madigan, passed a plan that would take that relief away from homeowners by protecting the big downtown commercial real estate developers.
“Considering how long it took to provide just one more year of property tax relief, Assessor Houlihan and I think it’s critical that the legislature address the long-term need for property tax relief now, before taxpayers face even higher bills. I am asking the General Assembly, on their own schedule, to reconvene before the end of the year to restore the property tax caps they just voted to take away. If they fail to do that, then it is my intention to call them into special session sometime by mid December to get it done.”