Board of Education v. Department of Revenue

Plaintiff, Board of Education of Glen Ellyn Community Consolidated School District No. 89 (Glen Ellyn), appeals a decision by the Department of Revenue (Department) denying a tax exemption for property leased by LaSalle Bank National Association (LaSalle Bank) to Glen Ellyn. On appeal, Glen Ellyn asserts that it is entitled to a property tax exemption under section 15 — 35 and/or section 15 — 135 of the Property Tax Code (Code) (35 ILCS 200/15 — 35, 15 — 135 (West 2002)) because (1) Glen Ellyn “owns” the subject property; (2) the lease was not a lease “for profit”; and (3) section 15 — 35(e)…