A Fortune 500 Company in a major town in central Illinois filed a real estate tax appeal in regard to its international
distribution facility. Based on the appeal with a well-documented appraisal, the real estate tax refund due
from the mid-size county would be more than $300,000 per year for multiple years and would set a long-term
precedent. MaRous and Company was hired to analyze existing data and the taxpayer’s appraisal report and
to provide preliminary consulting opinions. Subsequent to our analysis in regard to the 2,000,000+-square-foot
facility positioned with interstate exposure and access, it was our opinion that the taxpayer’s appraiser’s opinion
of market value was aggressively conservative.
Within the county taxing bodies, considerable conflict existed as to the worth of incurring the
expense of an appraisal in addition to potentially upsetting the largest employer in the area with a
contested tax appeal that could go before the Illinois Property Tax Appeal Board. However, we
were allowed to tour the facility and we then prepared a full appraisal report.
Upon completion and submission of our appraisal report to the public body, which then tendered it to the
Fortune 500 Company, the taxpayer actually withdrew its appeal for multiple year relief. The taxing districts
were able to retain the full tax amount, which, again over multiple years, well exceeded $600,000. Soon
thereafter, this Fortune 500 company withdrew at least five other major real estate tax appeals for its
holdings in this area; MaRous and Company had provided consultation for valuation appeals for several of
the various taxing bodies.