Will County Board of Review v. Illinois Property Tax Appeal Board

This appeal originated with action by Will County Board of Review fixing the 1977 assessed valuation of certain commercial property at figures higher than the involved taxpayers were willing to accept. One property was owned by Chicago/Joliet Livestock Marketing Center, Inc., and the other was owned by Kerr Glass Company. Both taxpayers appealed to the State Property Tax Appeal Board (PTAB), where the Chicago/Joliet appeal was heard on March 26, 1979. An appraiser testified for the taxpayer that, utilizing a cost approach, he had determined the fair market value of the property to be…