Chicago: Tax Agency Determines To Return Taxes To Trump

An Illinois tax agency determined that former President Donald Trump should be reimbursed $ 1 million for the 2011 tax bill for his skyscraper in downtown Chicago, but local authorities are trying to prevent the return.

According to the Chicago Sun-Times newspaper, the point in question is the Cook County Board of Review’s estimate of the value of the rooms and retail space at the Trump International Hotel & Tower. In June, the Illinois Property Tax Appeals Board approved a 5-0 downgrade of the building’s commercial property.

The result of the vote implies that Trump is owed $ 1.03 million, money that would come from property taxes and destined for the Chicago City Council, the Chicago Public Schools and other government agencies. The Cook County state attorney opposes the refund and has filed a lawsuit with the Illinois Court of Appeals in hopes of blocking it.

The dispute is the latest chapter in a long-standing legal battle surrounding Trump’s tax bills that began more than 12 years ago and resulted in more than $ 14 million in tax breaks in his favor. The dispute involves not just a former president who is at the center of a number of court battles but a Chicago councilor whose own legal troubles have made headlines in the local press for months.

Councilman Edward M. Burke, whose former law firm Klafter & Burke obtained tax breaks for Trump, has been indicted on federal charges for preventing companies from obtaining city permits unless they hired that firm. Burke has pleaded not guilty and is awaiting trial.

The dispute over the tax bills related to that property has its own long history. Originally, the state agency rejected Trump’s argument that the vacant stores were worthless because it couldn’t find someone to rent them. A hearing officer at the state agency rejected Trump’s argument that vacant stores at the property were worthless because they were not rented. However, a staff member later wrote in a report that Trump was entitled to reimbursement.

The tax agency postponed the proceeding of the case until Trump left the presidency and in June approved to reduce the valuation on the commercial property of the building.


Joem Flicth

I am "Joem". Owner and editor at An Idealist that produces different types of news and information online.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button