Senate OKs Two-Year Property Tax Freeze

(Chicago, IL) — The Illinois Senate is offering Governor Rauner half-a-loaf on his demand for a property tax freeze. The Senate is approving a two-year property tax freeze on taxes collected for schools and local governments. Governor Rauner has been pushing for at least a four-year freeze as one of his budget reforms, but Senate President John Cullerton says let’s try two years first. He says if there’s a new school funding formula and budgets are balanced, maybe the freeze can be extended. The legislation now moves to the House for a vote.