Report: Tax Legislation Would Cut Property Tax Bills for Thousands

An analysis by the Chicago Tribune found, for instance, that House Speaker Michael Madigan would pay 272-dollars less than what he paid last year on his Chicago bungalow.

Senate President Emil Jones helped push the cap legislation through the Senate Tuesday. He would see an $81 reduction.

Proponents say the legislation is meant to limit tax bills in areas of soaring property values, but the Tribune reports that in some cases, the bill would actually lower the tax bills for some people.

Critics say it could mean bigger tax bills for businesses and renters, as well as less money for schools.