The 'expanded homeowners exemption' would limit increases to 7 percent.
It appears Schulter has the support of at least one state lawmaker who believes even more should be done.
"At the end of the day and in these times in particular we cannot fix a broken system on the backs of homeowners and families across Cook County. We need to fundamentally change how we asssess taxes property in Cook County," said Il. Rep. John Fritchey, (D) Chicago.
Schulter says without an extension the average Chicagoan could see their property tax bill jump $750 next year.