Former President Trump wins tax refund on Chicago tower
CHICAGO (CBS) -- Former President Donald Trump had a tax win Wednesday involving his Chicago hotel.
The Illinois Appellate Court ruled the Cook County Assessor overvalued the Trump International Hotel & Tower at 401 N Wabash Ave. – and as a result, overcharged former Mr. Trump's company for its property tax.
The ruling caps a years-long fight and means a $1 million refund for Mr. Trump.
A judge agreed with the argument by the law firm of embattled former Ald. Ed Burke (14th) – who claimed the property was assessed based on retail stores in the tower that were never occupied and should not be taxed.
There was no word late Wednesday as to whether the Cook County Board of Review plans to appeal to the Illinois Supreme Court.
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