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City of Chicago Defers Tax Payment Due Dates to June 1 for Business Community

City of Chicago Defers Tax Payment Due Dates to June 1 for Business Community April 16, 2020   Mayor Lori E. Lightfoot and the Department of Finance announced on Thursday, April 16 that the City of Chicago will be offering additional financial relief for the business community impacted by COVID-19 by further extending tax payment…

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Assessor Kaegi’s Office Suspends Assessment Notice Mailings and Deadlines

Assessor Kaegi’s Office Suspends Assessment Notice Mailings and Deadlines March 20, 2020   Effective March 19, 2020, Assessor Kaegi announced the temporary suspension of assessment notice mailings and appeal deadlines. This suspension will remain in place until further notice while the office remains closed to the public. Customer service via phone is currently unavailable. Property…

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BOMA/Chicago Continues to Oppose Data Modernization Bill

BOMA/Chicago Continues to Oppose Data Modernization Bill March 11, 2020   At the urging of BOMA/Chicago members and their building tenants, BOMA/Chicago successfully opposed Senate Bill (SB) 1379 during last year’s legislative session. The legislation, sponsored by Cook County Assessor Fritz Kaegi, would have required commercial properties to submit income and expense data annually. BOMA/Chicago teamed…

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Request for Voluntary Data from the Assessor’s Office

Request for Voluntary Data from the Assessor’s Office February 28, 2020   You may have received a letter from Assessor Fritz Kaegi’s office asking you to voluntarily submit data about your property’s income, expenses and vacancies using the Assessor’s new Real Property Income and Expense (RPIE) online tool. Submission of this data through RPIA is not mandatory. We…

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Illinois Imposes New State Parking Excise Tax and Collection Process

Illinois Imposes New State Parking Excise Tax and Collection Process February 25, 2020   Effective January 1, 2020, operators of parking areas, spaces, and garages are required to collect and remit a new state Parking Excise Tax which was passed by the Illinois General Assembly last year. This new tax is based on the purchase…

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Tick-Tock Goes the Property Tax Clock

Tick-Tock Goes the Property Tax Clock By Michael Cornicelli, Executive Vice President, BOMA/Chicago One of the more eye-catching headlines I have seen in the last month or so came from Joe Cahill at Crain’s Chicago Business, and it read, “Defuse the property tax bomb.” How appropriate given the extensive sparks flying around the issue of increasing property taxes. Expressing…

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Illinois House Majority Leader Greg Harris Meets with BOMA/Chicago Board

Illinois House Majority Leader Greg Harris Meets with BOMA/Chicago Board July 23, 2019 BOMA/Chicago welcomed Illinois House Majority Leader Greg Harris at our July Board of Directors meeting. Leader Harris provided a legislative update on energy, tax and state budget issues and Board member shared market insights and concerns. In This Section Board of DirectorsStaffMember DirectoryNewsMedia CoverageFor…

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47th Ward Alderman Matt Martin Tours 200 West Monroe

47th Ward Alderman Matt Martin Tours 200 West Monroe July 23, 2019 Lee Hebert with Accesso Services hosted 47th Ward Alderman Matt Martin on a tour of 200 West Monroe. During the tour and presentation, Lee shared insights about the commercial real estate industry, property taxes and sustainability initiatives, while highlighting the tenants and businesses in…

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No Vote Taken this Session on Property Tax Bill

No Vote Taken this Session on Property Tax Bill June 11, 2019   At the urging of BOMA/Chicago members and their building tenants, BOMA/Chicago successfully opposed Senate Bill (SB) 1379 this past legislative session. The legislation,  sponsored by Cook County Assessor Fritz Kaegi, would have required commercial properties to submit income and expense data annually. BOMA/Chicago…

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BOMA/Chicago Teams with Business Group Coalition to Oppose Property Tax Legislation

BOMA/Chicago Teams with Business Group Coalition to Oppose Property Tax Legislation May 28, 2019   At the urging of BOMA/Chicago members and their building tenants, BOMA/Chicago continues to oppose Senate Bill (SB) 1379 in the final days of the General Assembly’s regular session. The legislation is sponsored by Cook County Assessor Fritz Kaegi and would…

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