People ex rel. Frantz v. M. D. B. K. W., Inc.

Decision Date01 December 1966
Docket NumberNos. 39816M-39818M,s. 39816M-39818M
Citation36 Ill.2d 209,221 N.E.2d 650
PartiesThe PEOPLE ex rel. Weldon B. FRANTZ, County Collector, Appellee, v. M.D.B.K.W., INC., et al., Appellants.
CourtIllinois Supreme Court

Woods & Thompson, Lincoln, for appellants.

Warren Peters, State's Atty., and Everett B. Johnson, Asst. State's Atty., Lincoln, for appellee.

KLINGBIEL, Chief Justice.

The county collector of Logan County made application to the circuit court for judgment for delinquent 1962 and 1963 realestate taxes paid under protest by M.D.B.K.W., Inc., and for delinquent 1963 taxes paid under protest by Charles McLaughlin, Jr., and wife. The taxpayers objected, alleging their respective properties were so excessively overvalued as to amount to constructive fraud. The court dismissed the objections and entered judgment for the full amount of tax in each case. The objectors have taken their respective appeals directly to this court, the revenue being involved, and the cases have been consolidated for review.

The corporation's property consists of a hotel with 65 rooms, in somewhat poor condition. In January 1962 it was purchased at public auction (including about $800 worth of furniture and furnishings) for a total price of $10,200. It was initially given a 1962 assessed valuation of $31,000 but the board of review, upon being advised of the purchase price, reduced it to $18,500. Application of the 1962 equalizing multiplier of the Department of Revenue resulted in an assessed valuation of $19,893 on which the taxes were extended. During 1962 repairs were made in the amount of some $7000. In 1963 complaint was again made before the board of review, which was informed of the purchase price, the $1962 improvements, and a net income loss sustained in 1962. The 1963 assessed valuation, after application of the multiplier for that year, was $21,264.

The McLaughlin property consists of a 361-acre farm purchased in 1961 for $86,000, and by July 1963 improvements had been added in the amount of $200. A hearing was had before the board of review with respect to 1963 taxes and the board made an inspection of the farm. The assessed valuation as determined by the board, after applying the multiplier for that year, amounted to $70,642.

Testimony of the supervisor of assessments showed that during the years in question real estate in Logan County was assessed at a figure not to exceed 55% Of fair cash market value. Based upon such assessed rate, the fair cash value of the corporation's hotel would be about $36,000 and that of the McLaughlin farm would be about $128,440. A real- estate salesman testified on behalf of the McLaughlins that in his opinion the fair cash value of the farm was $86,000. The applicant county collector presented no evidence in either case.

The law requires assessment of property at its fair market value. The ascertainment of such value for purposes of taxation is primarily for the...

To continue reading

Request your trial
14 cases
  • Collector of Cook County, Application of
    • United States
    • United States Appellate Court of Illinois
    • September 29, 1987
    ...of Rosewell v. United States Steel (1985), 106 Ill.2d 311, 325, 88 Ill.Dec. 28, 478 N.E.2d 343; People ex rel. Frantz v. M.D.B.K.W., Inc. (1966), 36 Ill.2d 209, 211, 221 N.E.2d 650; People ex rel. Munson v. Morningside Heights (1970), 45 Ill.2d 338, 341, 259 N.E.2d 27.) Specifically, where ......
  • County Treasurer and Ex Officio County Collector of Cook County, Application of
    • United States
    • Illinois Supreme Court
    • September 27, 1989
    ...45 Ill.2d 338, 259 N.E.2d 27; People ex rel. Joseph v. Schoenborn (1968), 41 Ill.2d 302, 242 N.E.2d 147; People ex rel. Frantz v. M.D.B.K.W., Inc. (1966), 36 Ill.2d 209, 221 N.E.2d 650; S.B.A. Co., 34 Ill.2d 373, 215 N.E.2d 233; People ex rel. Johnson v. Robison (1950), 406 Ill. 280, 94 N.E......
  • Rosewell v. Bulk Terminals Co.
    • United States
    • United States Appellate Court of Illinois
    • May 22, 1979
    ...e. g., People ex rel. Korzen v. American Airlines, Inc. (1967), 39 Ill.2d 11, 20, 233 N.E.2d 568; People ex rel. Frantz v. M. D. B. K. W., Inc. (1966), 36 Ill.2d 209, 211, 221 N.E.2d 650. Accordingly, the judgment appealed from is in all respects affirmed. AFFIRMED. DOWNING and HARTMAN, JJ.......
  • People ex rel. Korzen v. American Airlines, Inc.
    • United States
    • Illinois Supreme Court
    • November 30, 1967
    ...Richmond, 207 Va. 885, 153 S.E.2d 257 (1967). Fair cash value is synonymous with fair market value. (See People ex rel. Frantz v. M.D.B.K.W., Inc., 36 Ill.2d 209, 221 N.E.2d 650 (1966); Bonbright, The Valuation of Property, 460--62 (1937).) The fair cash value of a leasehold is its rental v......
  • Request a trial to view additional results

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT