Egyptian pound vs. dollar in Tuesday early trade    Egypt's FM touts investment reforms to German firms at Berlin business forum    Egypt's AOI signs defence industry cooperation MoU with UAE-China Al Qalaa Red Flag    Gaza death toll continues to rise as aid access remains severely restricted    Egypt, Saudi Arabia set to launch joint initiative to localize medical supplies production    Egyptian companies account for 63% of nation's apparel export structure    Egypt unveils 'Sinai 806' recovery vehicle and new rocket systems at EDEX 2025    Egypt's AOI signs defence manufacturing deal with China's Norinco, UAE's Abu Dhabi Aviation at EDEX    US Embassy marks 70th anniversary of American Center Cairo    Egypt's TMG invests over $5bn in two Oman real estate projects    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    How to Combine PDF Files Quickly and Easily    Maternal, fetal health initiative screens over 3.6 million pregnant women    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt adds trachoma elimination to health success track record: WHO    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Agency: Trump is due $1M tax refund for Chicago skyscraper
AP Published in Ahram Online on 31 - 07 - 2021

An Illinois tax agency has ruled that former President Donald Trump is due a $1 million refund on the 2011 tax bill for his downtown Chicago skyscraper, but local officials are trying to block the refund.
The Chicago Sun-Times reports that at issue is the Cook County Board of Review's estimation of the value of the the Trump International Hotel & Tower's rooms and retail space. In June, the Illinois Property Tax Appeal Board voted 5-0 to reduce the assessment on the building's commercial property.
The vote means that Trump is owed $1.03 million, money that would come out of the property taxes due the city of Chicago, the Chicago Public Schools and several other government agencies. The Cook County State's Attorney is disputing the refund and has filed a lawsuit with the Illinois Appellate Court in the hopes of blocking it.
The dispute is the latest chapter in a long-running legal battle over Trump's tax bills that started more than 12 years ago and has led to more than $14 million in tax breaks for Trump. It also involves not only a former president who is at the middle of a host of legal battles but a Chicago alderman whose own legal troubles had been making headlines in Chicago for months.
Alderman Edward M. Burke, whose former law firm, Klafter & Burke, won the tax breaks for Trump, has been indicted on federal charges that he blocked businesses from getting city permits unless they hired the firm. He has pleaded not guilty and is awaiting trial.
The dispute over the tax bills on the high-rise building has it's own long history. Originally, the state agency rejected Trump's argument that the vacant stores had no value because he could not find any tenants to lease them. A hearing officer for the state agency rejected Trump's argument that the vacant stores at the building had no value because he couldn't lease them. But a staff member later wrote a report that Trump was entitled to the refund.
The agency delayed acting on the case until Trump was out of office and in June voted to reduce the assessment on the building's commercial property.

Clic here to read the story from its source.