The Illinois Property Tax Appeal Board just gave former President Donald Trump a huge win ruling he is due a $1 million refund on his Chicago skyscraper’s 2011 tax bill. They determined Cook County overestimated the value of the building’s retail space after Trump fought the original assessment.
So what does the failed Dem machine in Chicago do? Do they pay up? No. They are blocking the tax rebate instead. The Cook County State’s Attorney filed suit with the Illinois Appellate Court to block the refund before it gets officially released.
Trump argued his vacant stores had no value because they were not rented, something most would assume to be a winning argument. The state agency rejected that saying instead that those empty spaces “add contributory value to the overall building.”
Trump’s building has a unique footprint that makes some retail spaces unattractive to renters.
But despite saying the empty spaces had value the state agency’s board voted 5-0 to reduce the assessments on the building’s commercial property.
This triggered the $1 million refund.
The Cook County State’s Attorney’s has since filed a lawsuit to block the refund. When reached by Insider, the State’s Attorney’s office said it was unable to comment on pending litigation.
The dispute is the latest development in the story of Trump’s taxes in Chicago. Alderman Ed Burke, the longest-serving member of Chicago’s City Council in history, served as Trump’s lawyer for more than a decade.
His firm originally filed the tax appeal arguing the value of Trump’s building had been overestimated.
Burke, a Democrat, helped Trump secure $14 million in tax breaks on his Chicago skyscraper before parting ways with Trump’s company in 2018, The Chicago Tribune reported.
Later that year, the FBI raided Burke’s City Hall office and he was later charged with racketeering, bribery, and extortion, among other charges.
Trump is due a $1 million refund on the 2011 tax bill for his downtown Chicago skyscraper, an Illinois tax agency ruled (via AP) https://t.co/w0AibBC0ZS— Bloomberg Politics (@bpolitics) August 2, 2021
Chicago Officials Trying To Block $1 Million Tax Refund On Trump Building https://t.co/j1k4J0CEiG— zerohedge (@zerohedge) August 2, 2021