Grundy County Nat. Bank v. State Property Tax Appeal Bd.

PRESIDING JUSTICE HOMER

delivered the opinion of the court:

Plaintiffs, the trustee bank and beneficiaries in a land trust, appealed a decision of the Grundy County Board of Review to reassess plaintiffs’ property from farmland to residential property. The Property Tax Appeal Board, and later the circuit court, upheld the reassessment and the plaintiffs have appealed to this court. For the reasons that follow, we affirm.

FACTS

Grundy County National Bank, as trustee, was the record owner of real property in Grundy County consisting of 18.896 acres. The property had been used for the production of…