Bally’s request for a tax break on its Chicago casino project is set to face some political blowback.
The Rhode Island-based gambling firm is pushing for a substantial property tax reduction to support its $1.7 billion casino and hotel project along the Chicago River at the former Tribune newspaper printing plant at 777 West Chicago Avenue, Crain’s reported.
After being awarded Chicago’s sole casino license in 2022, Bally’s is seeking a 12-year tax incentive that would reduce its property tax assessment from the commercial property standard of 25 percent of its market value to 10 percent — the same rate as residential real estate — for the first decade.
