What Kaegi is really saying is: We know your major asset is worth 1/3 of what it was before we screwed everything up with COVID shut downs that didn’t work, but we’re broke and need the money. So we are going to act like the asset is not worth 1/3 of what it was and take the position that it actually increased in value. Thereby ensuring that you will pay more tax on an asset worth far less. Such a deal. Enjoy. You earned it.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
What Kaegi is really saying is: We know your major asset is worth 1/3 of what it was before we screwed everything up with COVID shut downs that didn’t work, but we’re broke and need the money. So we are going to act like the asset is not worth 1/3 of what it was and take the position that it actually increased in value. Thereby ensuring that you will pay more tax on an asset worth far less. Such a deal. Enjoy. You earned it.