Bears 'disappointed' after Board of Review blocks lower Arlington Heights property tax bill

Chicago Bears executives on Thursday said they were “disappointed” that Cook County officials sacked their effort for a bigger property tax break on the team’s land in Arlington Heights, throwing the latest block in the way of their drive for a new stadium in the northwest suburb.

The Cook County Board of Review’s $124.7 million valuation of the former Arlington International Racecourse site — and the Bears’ resulting property tax bill of $10 million to $11 million — leaves team brass giving serious consideration to other options as they work toward breaking ground on a long-coveted dome, the team said in a statement.

“While we review the effects of this decision, we will continue to work with local municipalities to select the best location for the future stadium of the Chicago Bears that will bring a transformative opportunity to our region — boosting the economy, creating jobs, and generating millions in tax revenue,” the statement read.

The Bears closed on their $197.2 million purchase of the 326-acre plot a year ago and appealed to the Board of Review after Cook County Assessor Fritz Kaegi assessed the value at nearly the same price.

That kicked off a monthslong tussle with local school districts who argued a lower property tax bill would shortchange the schools.

The former land owner, Churchill Downs Inc., paid a nearly $8 million tax bill last year based on a valuation of $95 million in an agreement with leaders at Northwest Suburban High School District 214, Palatine Township Elementary District 15 and Palatine-Schaumburg High School District 211.

After the Bears took over, the districts argued the team’s land should be taxed based on a value of $160 million, but the Bears pushed for an assessment of $60 million to $71 million.

Cook County Board of Review Commissioners George Cardenas and Larry Rogers Jr. voted Wednesday in favor of the $124.7 million price tag. The board’s third member, Commissioner Samantha Steele, split with them, pushing for a value of around $138 million.

“Our decision for the Bears’ stadium site is about fairness — fairness to the Bears and fairness to Arlington Heights taxing bodies,” Cardenas said in a statement.

The Bears said “we appreciate their acknowledgment of the initial excessive valuation, but are disappointed the decision did not recognize the totality of the facts presented, including other large-scale property sales in north suburban Cook County assessed at less than half of their purchase price.

“Our land value is still not uniform with other large tracts of land in the area. From day one, we have operated in good faith — offering to pay more in taxes on vacant land with no commercial usage than the site generated with a fully operational racetrack — but our offers have been rejected,” the team said.

Representatives for the school districts couldn’t be reached for comment.

The Bears — who have fielded stadium flirtations with several other suburbs, and are seriously mulling an effort for a new stadium south of Soldier Field — have a month to take their case to the Illinois Property Tax Appeal board, or they can file a lawsuit.