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Chicago restaurants hit by property-tax hike

Chicago restaurateurs are beginning to wonder how they’ll cover a proposed property-tax increase that would hit area businesses right where it hurts, Crain’s Chicago Business reports.

The tax hike would increase total taxes by 13 percent—and in the case of some businesses, 18 percent, Crain’s says. It would be the largest property-tax hike in Chicago history.

Total taxes for famed hot-dog joint The Wieners Circle would jump by $3,197 once the full increase is phased in, restaurant investor Ari Levy, son of Levy Restaurants’ co-founder Larry Levy, told Crain’s.

“That’s a lot of hot dogs,” Levy said.

In addition to rising property taxes, Chicago restaurant owners are concerned about the impact of a soda-syrup tax that may be introduced by city officials.

Read the full story on Crain’s Chicago Business.

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