Somehow, the City of Chicago has lost its campaign to eliminate the independent Property Tax Appeals Board (PTAB), which every year accounts for millions of dollars in shortfalls in the schools budget. The Mayor and Cook County Assessor James Houlihan tried to endorse a county-run appeals board in order to keep big business from exploiting their legal resources to save money on their property taxes. The Illinois State Senate struck down the bill to eliminate the PTAB, and the city is predicting millions of dollars in losses, which will directly affect the CPS, which is largely funded by commercial/industrial property taxes.