CBS News Chicago
In this evening news story, Civic Federation President Laurence Msall explains that the Federation's analysis of the "7% cap" found that raising the maximum exemption from the current $20,000 to $60,000, as has been proposed by members of the Illinois Senate, would shift too much of the property tax burden on to non-homestead properties. The Federation supports extending the Alternative General Homestead Exemption at the current $20,000 level for three years.