SPRINGFIELD The Illinois House Wednesday voted real estate taxbreaks for homeowners and senior citizens, but refused to limitproperty tax billings by local governments.
The House action appeared a fatal blow to Gov. Edgar's hopes forextending property tax caps beyond the collar counties.
Sent to the Senate, 114-2, the homestead measure would: Increase to $5,500 from $4,500 the general homestead exemption inCook County, which would exempt from property taxes up to $5,500 ofthe increase in a residence's equalized assessed value since 1977.
Outside Cook County, the exemption would go to $4,500 from$3,500. Boost to $3,000 from $2,500 an additional exemption for …
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