Illinois

Agency: Trump will pay $ 1 million tax refund on skyscrapers in Chicago | Business and Economy



File-File on Thursday, March 10, 2016 The photo shows the Trump International Hotel and Tower in Chicago. Illinois tax authorities have ruled that former President Donald Trump should pay a $ 1 million refund for the 2011 tax bill on a skyscraper in downtown Chicago, but local authorities have said that. I’m trying to prevent a refund.


Charles Rex Arbogast


Illinois tax authorities have ruled that former President Donald Trump should pay a $ 1 million refund for the 2011 tax bill on skyscrapers in downtown Chicago, but local authorities have ruled that refund. Trying to stop.

NS Chicago sun times The issue is reported by the Cook County Council to estimate the value of guest rooms and retail space at the Trump International Hotel & Tower. In June, the Illinois Property Tax Appeals Commission voted 5-0 to reduce the valuation of commercial real estate for buildings.

Voting means that Trump has borrowed $ 1.03 million. This is the amount that results from property taxes paid to the City of Chicago, Chicago Public Schools, and several other government agencies. A Cook County lawyer has challenged the refund and has filed a proceeding with the Illinois Court of Appeals in hopes of blocking it.

The controversy is the latest chapter in a long-running court battle over Trump’s tax bill, which began more than 12 years ago, leading to more than $ 14 million in Trump’s tax deductions. It also includes the former president, who is in the midst of many court battles, as well as a Chicago city council member whose own legal issues have been making headlines in Chicago for months.

Agency: Trump will pay $ 1 million tax refund on skyscrapers in Chicago | Business and Economy

Source link Agency: Trump will pay $ 1 million tax refund on skyscrapers in Chicago | Business and Economy

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