Illinois’ Gov Quinn signs bill giving seniors a break on property tax. At a cost.

Senior citizens in most of Illinois will get a break on their property tax bills next year because of a bill Gov. Pat Quinn signed recently. That’s good, much-needed relief.

However, seniors getting a break means the rest of us will pay more. The tax pie won’t shrink because local taxing bodies are entitled to get the same amount they did the year before, plus the rate of inflation. That’s the way the Property Tax Extension Limitation Law, commonly referred to as tax caps, works.

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