Arlington Heights village officials have proposed a compromise over the Chicago Bears’ property tax for the site of a potential domed stadium in the suburb that would significantly cut the team’s tax bill. In an effort to break the impasse between the Bears and local school districts over the property tax bill on the former Arlington International Racecourse site, the village proposed an agreement to accept the Cook County Board of Review’s assessed value of $124.7 million for the 2023 and 2024 tax years. The property would be assessed at the 25% commercial rate for half of 2023 and the 10% vacant property rate for the other half, resulting in a total tax liability of $6.3 million, according to Arlington Heights’ Feb.
Comment on Arlington Heights proposes a tax cut compromise for the possible Chicago Bears’ suburban stadium site
Dan Petrella, Robert McCoppin, Chicago Tribune: Business
Mon, 03/18/2024 - 8:24pm
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