ARLINGTON HEIGHTS, Ill. (WBBM NEWSRADIO) -- The Chicago Bears and three northwest suburban school districts are football fields apart in agreeing on what kind of property tax the team should pay for land in Arlington Heights.
The Cook County Assessor had valued the land that the Bears bought in Arlington Heights at $197 million. The Bears and former owner Churchill Downs are appealing that. Meanwhile the Bears and three school districts have been in talks about what would be a fair valuation for the land in order to determine what the Bears should pay in property taxes.
According to the Daily Herald, the Bears want the property valued at $52 million since it won’t be generating any revenue for a couple of years. The three school districts reportedly are suggesting a $95 million dollar valuation which would have the Bears paying nearly $8 million dollars per year in real estate taxes.
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