Legal Opinion
Rainbow Apartments v. Property Tax Appeal Board
Appellate Court of Illinois
Decided December 6, 2001No. 4-00-0703PublishedCited by 19 opinions
1Opinion of the CourtJustice Knecht
Rainbow Apartments (Rainbow) seeks administrative review of the decision of the Illinois Property Tax Appeal Board (PTAB) to include the present value of federal low-income housing credits as part of its assessed real-property value. We affirm.
I. BACKGROUND
Rainbow is a limited partnership owning a 72-unit rental property built in 1995. The property was designed as low-income housing to qualify for tax credits pursuant to section 42 of the Internal Revenue Code (26 U.S.C. § 42 (1994)). The developer syndicated the project and allocated the available tax credits to the limited partners, who…
2Cases cited6 opinions
- Landgraf v. USI Film ProductsSupreme Court of the United States · 1994
- Commonwealth Edison Co. v. Will County CollectorIllinois Supreme Court · 2001
- Kankakee County Board of Review v. Property Tax Appeal BoardIllinois Supreme Court · 1989
- Midwest Central Education Ass'n v. Illinois Educational Labor Relations BoardAppellate Court of Illinois · 1995
- City of Chicago v. Michigan Beach Housing CooperativeAppellate Court of Illinois · 1993
1 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- STATE BUILDING AND CONSTRUCTION TRADES COUNCIL v. DuncanCalifornia Court of Appeal · 2008
- In re Creekside Senior Apartments, LPBankruptcy Appellate Panel of the Sixth Circuit · 2012
- Huron Ridge LP v. Ypsilanti TownshipMichigan Court of Appeals · 2007
- Rizzo v. Board of Trustees of the Village of Evergreen Park Police Pension FundAppellate Court of Illinois · 2003
- Hometowne Associates, L.P. v. MaleyIndiana Tax Court · 2005
14 more not listed; retrieve them via the Exa API.