Bloomington Public Schools v. The Illinois Property Tax Appeal Board

              Filed 1/31/08 NO. 4-07-0405
IN THE APPELLATE COURT
OF ILLINOIS
FOURTH DISTRICT
BLOOMINGTON PUBLIC SCHOOLS, DISTRICT
NO. 87, McLean County, Illinois,
Petitioner-Appellant,
v.
THE ILLINOIS PROPERTY TAX APPEAL
BOARD, SEARS STORE No. 2840, and
THE McLEAN COUNTY BOARD OF REVIEW,
Respondents-Appellees.
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Appeal from
Illinois Property
Tax Appeal Board
No. 04-00644-C-3
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JUSTICE McCULLOUGH delivered the opinion of the court:
The petitioner, Bloomington Public Schools, District
No. 87, McLean County, Illinois (School District), appeals the
final administrative decision of the Property Tax Appeal Board of
the State of Illinois (PTAB). In February 2005, the Board of
Review of McLean County found the 2004 assessed value for Sears
Store No. 2840 (Sears) was $1,980,262. The respondent, Sears,
appealed that assessment to PTAB; and in April 2007, PTAB found
the assessed valuation was $1,265,400.
The School District appeals, arguing that (1) PTAB
should have considered the sale of the mall in determining the
fair market value of Sear's property, (2) PTAB should have
considered the value of the land in determining the fair market
value of Sear's property, and (3) PTAB's decision to use the fair
market value found by Sear's appraiser is against the manifest
weight of the evidence. We disagree and affirm.
Because the parties are familiar with the evidence
presented at the June 2006 hearing, we present facts only to the