The Chicago Board of Education is slated to vote on paying Trump Tower condominium owners about a quarter-million dollars after negotiating a property tax appeal from 2015.
The Chicago Board of Education is slated Wednesday to vote on paying Trump Tower condominium owners about a quarter-million dollars after negotiating a property tax appeal from 2015.
Despite the taxing body having to pay back the condo owners, Dalianis said the school board sees the settlement as “favorable” because the residents in Trump Tower were seeking far more when they appealed. He said the negotiations allowed Chicago Public Schools to avoid paying more than $1 million to the condo owners.“This is a very favorable settlement for the Board of Ed,” Dalianis said. “ preserving a huge amount of the property taxes that are at risk in this appeal.
Represented by attorney Patrick McNerney, who has also done legal work for Trump, the condo owners argued their $647 million combined assessment was only worth $500 million. McNerney did not respond to requests for comment Monday. Other taxing bodies, such as the city of Chicago and Cook County, will also have to pay some refund that would be equivalent to the portion of the settlement the Board of Education agreed on, Dalianis said.
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