Chicago authorities owe Trump $1 million
The Illinois Property Tax Appeals Board has ruled that Chicago authorities must reimburse former U.S. President Donald Trump $1 million for a skyscraper built by the former United States leader in 2011. This is reported by the Chicago Sun-Times.
According to the court, the Illinois Cook County Board of Supervisors overestimated the value of hotel rooms and retail space in the building, and as a result, Trump paid a higher tax.
However, the Cook County State’s Attorney filed a lawsuit in the Illinois Court of Appeals trying to block the tax refund, which has not yet been processed.
If Trump gets the refund, the money will be paid out of property taxes owed to the city of Chicago and eight public agencies, including Chicago Public Schools, which could lose the most money – about $540,000.