Building Owners Say Property Taxes Deterring New Downtown Business
Ron Vukas, executive vice president of the Building Owners and Managers Association, says Chicago's tax system isn't working for property owners.
"Chicago's office building inventory has the capacity to accommodate more new businesses and more new jobs. But those businesses and jobs are not materializing which results in a significantly lost opportunity cost," he said.
Vukas says Illinois relies too much on property taxes to fund public schools.
Chicago Mayor Richard Daley says a property tax increase will help balance the schools districts' budget.