Taxation
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…
Read MoreIllinois 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…
Read More47th 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…
Read MoreNo 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…
Read MoreBOMA/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…
Read MoreCommittee Members Delay Vote on Property Tax Legislation Opposed by BOMA/Chicago
Committee Members Delay Vote on Property Tax Legislation Opposed by BOMA/Chicago May 14, 2019 At the urging of BOMA/Chicago members and their building tenants, the Revenue Committee of the Illinois House of Representatives has delayed a vote on SB 1379, the legislation sponsored by Cook County Assessor Fritz Kaegi earlier this year to require…
Read MoreBOMA/Chicago Raises Concerns About Assessment Legislation
BOMA/Chicago Raises Concerns About Assessment Legislation March 11, 2019 BOMA/Chicago’s Ron Tabaczynski testified at House and Senate committees to oppose legislation introduced by Cook County Assessor Fritz Kaegi, voicing concerns about unforeseen shifts in tax burdens to commercial properties. The legislation would require income producing properties to submit income and expense data annually in…
Read MoreAdvocacy Updates: Illinois Legislature on Pace for Busy Year
Advocacy Updates: Illinois Legislature on Pace for Busy Year February 19, 2019 When the deadline for bill introduction came on February 15, Illinois senators and representatives had filed over six thousand pieces of legislation for consideration in the 101st General Assembly. Add to that substantive amendments and there will be 10,000 to 12,000 legislative proposals…
Read MoreCity Council Considers Transfer Tax Proposals
City Council Considers Transfer Tax Proposals November 27, 2018 BOMA/Chicago has been actively opposing three transfer tax proposals currently up for consideration in the City Council. Cumulatively, the three proposals total an increase of $12.00 per $500 and, if all passed, would increase the City portion of the transfer tax from the current $3.75…
Read MoreDemystifying the State Street SSA and its Impact on BOMA/Chicago Buildings
Demystifying the State Street SSA and its Impact on BOMA/Chicago Buildings By Amy Masters, BOMA/Chicago Director of Marketing and Communications If you received email promotions over the summer for ACTivate networking events hosted by the Chicago Loop Alliance (CLA), you may have wondered … what is the CLA? What does this group do? Does the…
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