Illinois tax authorities last month ruled that Trump’s Chicago skyscraper was overvalued in 2011.
The ruling means that Trump is obliged to receive a $ 1 million refund, but local authorities have filed a proceeding to stop it.
Refunds come from property taxes payable to the city and other institutions, including Chicago Public Schools.
Former President Donald Trump has tax refund on Chicago skyscrapers of $ 1 million, but local authorities are trying to prevent it from being issued.
Illinois tax authorities last month ruled that Trump paid a hefty on the 2011 tax bill after the value of the rooms and retail space at the Trump International Hotel and Tower was overvalued by the Cook County Council. Chicago sun times report.
The Illinois Property Tax Appeals Commission’s ruling means that Trump is in debt of $ 1.03 million. This is due to property taxes by the city and other government agencies. According to the Sun Times, Chicago Public Schools will lose about $ 540,000.
A Cook County lawyer then filed a proceeding to prevent a refund. When contacted by insiders, the state law firm said it was unable to comment on the proceedings in dispute.
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The controversy is the latest development in the Trump tax story in Chicago. Alderman Ed Burke, the longest-serving member of the Chicago City Council in history, has been Trump’s lawyer for over a decade. His company initially filed a tax appeal alleging that the value of Trump’s building was overvalued.
Democrat Burke helped Trump secure a $ 14 million tax deduction on a skyscraper in Chicago before breaking up with Trump’s company in 2018. Chicago Tribune report.
Later that year, the FBI attacked Burke’s Town Hall, where he was later charged with rackets, bribes, and robbery.
Prosecutors say Burke used the power of his office to push the business to his law firm. He pleaded not guilty to all charges, WTTW report.
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