Cubs co-owner Todd Ricketts’ designer Wilmette home is worth more than twice as much as previously thought — and that could more than double his property tax bill next year and trigger a tab of at least $60,000 in back taxes and interest.
That bottom line emerged Tuesday as the Cook County assessor’s office completed its reassessment of Ricketts’ property following a Tribune story that revealed the Republican National Committee finance chairman had been paying taxes as if the older, smaller house he’d torn down more than a decade ago was still there.
The Cook County Board of Review has referred to the state’s attorney its investigation of Cubs co-owner Todd Ricketts’ property tax appeal on his designer Wilmette home after concluding that Ricketts and his real estate lawyer made “misrepresentations” that lowered tax bills by tens of thousands of dollars.
The tax appeals panel concluded that it “does not have sufficient evidence to establish” that either Ricketts or attorney James FortCamp “knowingly misled” officials. But the board also noted it does not have the authority to compel those involved to testify under oath. […]
Ricketts’ attorney, former federal prosecutor Patrick Collins, wrote a four-page letter to the tax board that described the appeal as “a series of good faith miscommunications.”
“While Mr. Ricketts takes responsibility for the errors, there was no intent to deceive anyone,” the letter read.