Former President Donald Trump is owed a tax refund of $1 million for his Chicago skyscraper, but local officials are trying to stop it from being issued.
An Illinois tax agency ruled last month that Trump paid too much on his 2011 tax bill after the value of Trump International Hotel and Tower’s rooms and retail space was over-assessed by the Cook County Board of Review, the Chicago Sun-Times reported.
The ruling by the Illinois Property Tax Appeal Board means Trump is owed $1.03 million, which would come from property taxes due to the city and other government agencies. Chicago Public Schools would lose out on about $540,000, according to the Sun-Times.
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.
ARTICLE: PAUL MURDOCH
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: YAHOO NEWS
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