People Ex Rel. Korzen v. Belt Railway Co.

This is another in a series of railroad tax objection cases where the railroad (Belt Railway Company of Chicago) contends that discrimination in assessment value between its properties and locally assessed property is so gross as to be constructively fraudulent. It differs from the prior cases primarily in that there was a sale of the objecting railroad itself, which the collector designates as a contemporary sale.

The Belt filed tax objections for each of the years 1959 to 1962, inclusive, reciting that locally assessed property was assessed at not more than 50% of its market value and that…