09/27/2009 05:12 am ET Updated May 25, 2011

CPS Board Approves Tax Hike

Chicago home owners will see an increase on their next property tax bill.

The Chicago Public School Board approved a one and a half percent increase in the schools portion of the property tax bill, amounting to an additional $18 a year in taxes for a home worth $262,000, the median price in the city.

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