Get A Free Quote
Ship From:

Ship To:

Donald Trump is Due a $1M Tax Refund for his Downtown Skyscraper

You are currently viewing Donald Trump is Due a $1M Tax Refund for his Downtown Skyscraper
  • Post category:News

Donald Trump, the former controversial and unfairly much-maligned ex-president, is due a $1 million refund on the 2011 tax bill. This would be for his downtown skyscraper in the Windy City. However, local officials are, not surprisingly, trying to block the refund. Donald Trump is very much hated throughout the U.S. and he is a very threatening figure to many.

Donald Trump’s Problem Getting his Tax Refund and the Assessment

What is at issue is the Cook County Board of Review’s estimation of the value of the Trump International Hotel & Tower’s rooms and retail space. The Midwest Property Tax Appeal Board did vote 5-0 to reduce the assessment on the building’s commercial property.

In essence, what the vote means is that Trump is owed $1.03 million. Moreover, that money would come out of the property taxes that are due to the city of Chicago. Also including the Chicago Public Schools and several other government agencies.

Donald Trump: Refund Dispute and a Lawsuit

Moreover, the Cook County State’s Attorney is, in fact, disputing the refund. It has filed a lawsuit with the Midwest Appellate Court in the hopes of blocking it. They must be foaming at the mouth as they file.

Donald Trump: Long-Running Battle

Moreover, this dispute is the latest chapter in a long-running legal battle. It is over Trump’s tax bills. They started more than 12 years ago. Thus it has led to more than $14 million in tax breaks for Trump.

The former president is in the middle of a host of legal battles. But it not only involves him but a Chicago alderman. This man has his own legal troubles. It has been making headlines, too, in Chicago for months.

The Indictment of Alderman Edward M. Burke

Winning the tax breaks for Trump, Alderman Edward M. Burke, who won the tax breaks for Trump, has been indicted on federal charges. He blocked businesses from getting city permits unless they hire the firm. In fact, he has pleaded not guilty. Thus is awaiting trial.

High-Rise Building Plagued by Problems

There has been a dispute over the tax bills on the high-rise building. In fact, that building has its own long history. Originally, the state agency had rejected Trump’s argument that the vacant stores had no value. Trump argued rightly so because he could not find any tenants, in fact, to lease them.

So a hearing officer for the state agency rejected Trump’s argument. He didn’t buy that “excuse or rationale” the vacant stores at the building had no value moreover because he couldn’t lease them. But a staff member later wrote a report that Trump was entitled to the refund.

Leave a Reply