This is a summary of the issues in Calumet Transfer v. Illinois Property Tax Appeal Board (PTAB). The PTAB decisions denying relief to the taxpayer were upheld.

This case involved the LTV Steel Co facility for the 2003 and 2004 Years. There were two parcels of property at issue: the coke production property and the blast furnace property. This company went into bankruptcy and the property was sold in the bankruptcy court.

The Taxpayer unsuccessfully argued in the alternative.

First, as a matter of law, the Court rejected the argument that the PTAB erred in holding that the sale of property through bankruptcy defeats the presumption that the sale was “in the due course of business and trade, not under duress, between a willing buyer and a willing seller” (at arm’s length).

Second, on the findings of fact, the Court rejected the argument that the PTAB’s determination of fair cash value in this case was against the manifest weight of the evidence.