Edward Rose Building Co. v. Property Tax Appeal Board

Edward Rose Building Co., hereafter Rose, owner of a 460-unit apartment complex in East Moline, Illinois, appeals from an order of the circuit court of Rock Island County affirming a decision of the Property Tax Appeal Board, hereafter PTAB, which based the 1986 assessed valuation of the property on a fair market value of $5,752,890. This is about $1,370,000 higher than the fair market value asserted by Rose.

According to the record on appeal, the Board of Review of Rock Island County assessed the apartment complex owned by Rose utilizing a fair market value of $5,330,000. Rose then appealed…