The Bears filed the necessary paperwork to begin demolition on the property at Arlington Park, according to the Chicago Tribune.
The tax raise is expected to be around $16 million, up from $3 million, according to the story.
The Bears are asking the Board of Review to reassess the tax value of the property. A hearing is expected to take place on the matter in June. The Bears are asking for the tax value to be decreased by over $37 million. Tearing down the property would not only cut maintenance costs but hopefully knock down tax costs for the Bears, too. Here's a statement from team officials published by the Tribune.
"Paying property taxes is part of being a member of the community. We want to pay our fair share. But the proposed assessment of the unoccupied property we purchased, and the taxes associated with it, would be more than five times what the property generated when it had an income-producing racetrack operating on it. Arlington Park would not be redeveloped by anyone at such an excessive property tax rate.
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