Lower value affirmed for Trump Tower in 2011 assessment

By Emma Oxnevad eoxnevad@lawbulletinmedia.com

Posted April 25, 2023 3:16 PM

The Illinois Property Tax Appeal Board (PTAB) correctly reduced the 2011 assessed value of the Trump International Hotel and Tower Chicago to $9.2 million from another board’s figure of $15.6 million, a state appellate panel ruled. A panel of the 1st District Appellate Court ruled that an appraisal submitted to the PTAB did not lack jurisdiction in determining the valuation of the property’s hotel rooms and did not take a flawed approach in determining its market value. Justice Mary Ellen Coghlan delivered the judgment of …

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