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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds a reduction in the assessment of the
property as established by the Kankakee County Board of Review is
warranted. The correct assessed valuation of the property is:
Docket No. Parcel No. Land Impr. Total
03-00160.001-I-3 03-02-23-100-014 238,333 1,443,667 1,682,000
04-00464.001-I-3 03-02-23-100-014 238,333 1,466,597 1,704,930
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Merisant Company
DOCKET NO.: 03-00160.001-I-3 and 04-00464.001-I-3
PARCEL NO.: 03-02-23-100-014
The parties of record before the Property Tax Appeal Board are Merisant Company, the appellant, by attorneys Gregory J. Lafakis and Ellen G. Berkshire of Verros, Lafakis & Berkshire, P.C. in Chicago, the Kankakee County Board of Review by Assistant State's Attorney Teresa Kubalanza, and Manteno Community Unit School Dist. No. 5, the intervenor, by attorneys Scott E. Longstreet and Frederic S. Lane of Robbins Schwartz Nicholas Lifton & Taylor, Ltd. in Chicago.
The Property Tax Appeal Board conducted a consolidated hearing involving the 2003 and 2004 appeals under Docket Nos. 03-00160.001-I-3 and 04-00464.001-I-3. Due to the commonality of the appeals, the Property Tax Appeal Board will issue a consolidated decision for these appeals in accordance with the Official Rules of the Property Tax Appeal Board, Section 1910.78 (86 Ill. Admin. Code, Sec. 1910.78).
The subject property consists of a 17.30-acre site that has been improved with a one-story steel/masonry industrial building that contains 110,834 square feet of building area with clear ceiling heights ranging from 16' to 20' and sprinkled. There is a land-to-building ratio of 6.80:1. The improvements were built in stages from 1989 to 1997 with a weighted average age of 11 years old which are utilized for the manufacturing of sweetener products. There are 83,644 square feet of manufacturing area; 10,000 square feet of warehouse area; and 17,190 square feet of office area. There are also twelve 10' x 12' steel dock doors and one 10' x 12' steel drive-in door. There is also a 180-car blacktop parking lot and a 57,600 square foot concrete paved area for trailer parking with a capacity of 40 trailers. The property is located in Manteno, Kankakee County, Illinois.
The appellant appeared before the Property Tax Appeal Board arguing that the market value of the subject was not accurately reflected in its assessed valuation for 2003 and 2004. In