@AldConway Correct me if Iโm wrong, but it sound like this is operating similarly to a TIF, but the mega projects wonโt have any reinvestment back into their infrastructure by the municipality for the excess property tax paid above the frozen value. Correct?
@ILFreedomCaucus Can you explain a you explain what the bill says about property tax? Will the EAV of the property automatically be dropped to $0, or will the state just freeze it at a certain level?
@BrianCostin@John32jr@tahmanbradley Youโre comparing apples and oranges here my man. Whatโs insane is the EAV cook county is trying to assign to this property and how you donโt understand that a rising tide lifts all boats
@BrianCostin@John32jr@tahmanbradley I would be ecstatic of the idea of the bears coming to my town if I were a restaurant because itโll bring so much more business. Imagine paying $100 million in property taxes while generating $10s of millions of sales tax, home rule sales tax, amusement tax, utility tax
@BrianCostin@John32jr@tahmanbradley 75% of the property tax bill goes to schools. This development will result in little to no impact on the schools enrollment, so why should they have to pay such high taxes?