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Home My WebLink About#5086 Stipulation RESOLUTION NO. 5086 A RESOLUTION APPROVING A STIPULATION OF ASSESSMENT BY THE PARTIES WITH THE CANTON HARVESTER INN, LLC AND AUTHORIZING AND DIRECTING THE MAYOR TO EXECUTE SAID STIPULATION ON BEHALF OF THE CITY OF CANTON, ILLINOIS WHEREAS, the Canton Harvester Inn, LLC ("Harvester Inn") filed a Non-Farm Property Assessment Complaint with the Fulton County Board of Review in January, 2015. WHEREAS, the City of Canton, along with the Canton Union School District #66 ("CUSD"), the County of Fulton ("County"), and the Township of Canton ("Township") all joined in having an appraisal of the property completed to determine whether the appeal of taxes was justified. WHEREAS, the City's appraisal came in vastly higher than the Harvester Inn's appraisal, however it was lower than the current assessed value. WHEREAS, the City, with the support of the CUSD, County, and Township, and the Harvester Inn began negotiations in an attempt reach a settlement as to the assessed value of the property without proceeding to trial. WHEREAS, the Legal & Ordinance Committee has reviewed the terms of the Stipulation and has considered and determined that it is necessary and in the best interests of the City of Canton, to enter into the Stipulation of Assessment by the Parties with the attached Memorandum of Proposed Settlement attached hereto as Exhibit A to determine the assessed value of$933,240.00. WHEREAS, the City Council has reached a similar determination. NOW THEREFORE, be it resolved by the City Council of the City of Canton, Fulton County, Illinois, as follows: 1. That the Stipulation between the City of Canton and the Canton Harvester Inn, LLC, a copy of which is attached hereto and incorporated herein as Exhibit A, is hereby approved. 2. That the Mayor, or his designee, is hereby authorized and directed to execute and deliver said Stipulation on behalf of the City of Canton. 3. That this Resolution shall be in full force an effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois, at a regular meeting this 21"day of March 2017, upon a roll call vote as follows: NLR Documents/Resolutions 3/15/2017 AYES: Aldermen Justin Nelson, Gerald Ellis, John Lovell, Angela Hale, Craig West, Ryan Mayhew NAYS: None ABSENT: ABSTAIN: Alderman Tad Putrich APPROVED: rtriel< Jeffrey A.'f�7"fi z, Mayor ATTES die Diane!v1ey='oar ity Clerk NLR Documents/Resolutions 3/15/2017 Memorandum of Proposed Settlement To: Fulton County Board of Review RE: Canton Harvester Inn LLC Tax Years: 2014-2018 The Taxpayer, Canton Harvester Inn, LLC, and intervenors, Canton Township, City of Canton and Canton Union School District #66 (the "Parties") have reviewed and discussed the appropriate market value of the property known as the Canton Harvester Inn located in the City of Canton, Illinois. The Parties have reviewed evidence of market value for the subject property; including recent appraisals, in support of this multi-year settlement agreement. This agreement shall resolve pending tax appeals before the Property Tax Appeal Board for tax years 2014 and 2015, the pending Board of Review appeal for tax year 2016, and shall establish an agreed to value for tax year 2017 and 2018. Establishing certainty in determining a fair assessment of the subject property is in the best interests of all parties in order to avoid further litigation associated with ongoing appeals of property tax assessments,to mitigate the costs associated with filing and defending appeals and assessments,to avoid prolonged delays in hearing property tax appeals and obtaining finality in assessment decisions,and to avoid overpayment of property taxes and the accompanying damage to school district budgets when property tax refunds are paid out. Whereas,the parties hereby agree to the following: • Establish a Market Value of$2,800,000 for 2014 through 2018 • Agreement of Taxpayer to waive refunds related to the City of Canton • Agreement of Taxpayer to consolidate the five parcels associated with the party into a single parcel for tax year 2017 and going forward The market value as agreed to by the Parties excludes future changes such as expansion or demolition of the building,destruction of the improvements(in whole or in part), closure of the operations, substantial renovations,new construction or other physical changes to the property which impact its market value. If the Fulton County Board of Review certifies a 2016 assessed value of$933,240 for all parcels,equating to a market value of$2,800,000,the Taxpayer agrees to not file a further appeal to the Illinois Property Tax Appeal Board and agrees to not file a specific ohjection in circuit court related to that market value for the 2016 tax year. The Taxpayer agrees not to file an appeal of the 2017 and 2018 assessment as long as the assessed value totals$933,240 equating to a market value of$2,800,000. Attorney for Canton Harvester Inn Ellen G. Berkshire Verros,Lafakis&Berkshire,PC Dated: c y� Property Tax Appeal Board .1� Stipulation Of Assessment(s) By The Parties s . Date: 2/24/17 Appellant(s): Canton Harvester Inn, LLC Docket Number(s):_ 14-02524 PIN(s): 09-08-27-409-001 Stipulated Assessment Lang,improvement and 74}81 Assessments must be completed for each parcel.Multiple parcels must be completed on the back of this page or on multiple pages and the aggregate figure Indicated below. Docket PIN Land Improvement Total 14-02524 09-08-27-409-001 $10,700 $922,540 $933,240 TOTAL $10,700 $922,540 $933240 Accepted' The undersigned have reviewed the file In the above captioned matter and find that the assessments should be adjusted and that a hearing is not necessary.The parties agree that the"Stipulated Assessment(s)"should be applied In the Property Tax Appeal Board's decision. Acceptance for AppellanUAttorney Acceptance for Board of Review -'- - Acceptance far Intervenor Acceptance for Board of Review Acceptance for Intervenor Acceptance for Board of Review --_ Dissenting' Attorney Name: Ellen G.BerkshlreNerros, Lafakis 8 Berkshire, PC • Bd.of Review Attn.Code 1084 Dissenting Board of Review Member/Commissioner Address: 33 N. LaSalle St., Ste. 2500 Chicago, IL 60802 • Please transmit original stipulation es follows. In all counties other than Cook,send to: In Cook County,send to: STATE OF ILLINOIS STATE OF ILLINOIS PROPERTY TAX APPEAL BOARD PROPERTY TAX APPEAL BOARD ROOM 402 STRATTON OFFICE BUILDING SUBURBAN NORTH REGIONAL OFFICE FACILITY 401 SOUTH SPRING STREET 9511 WEST HARRISON STREET SUITE 141 SPRINGFIELD IL 62706.4001 DES PLAINES IL 60016-1563 (217)782-6076 (847)294-4121 PTA61 shoal(N-I abnl �A IL-M-4154 fY� • w�",�1:41...,.. Property Tax Appeal Board " I - ' Stipulation Of Assessment(s) By The Parties y ^> Date 2/24117 Appellant(s): Canton Harvester Inn,LLC Docket Number(s): 15-01717 PIN(s): See Attached Addendum Stipulated Assessment: Lind,Imnmvement sed Total Assessments must be completed for each parcel.Multiple parcels must be completed on the back of this page or on multiple pages and the aggregate figure indicated below. Docket PIN Land Improvement Total 15-01717 See Attached Addendum $37,000 $896,240 $933,240 TOTAL $37,000 $896,240 $933,240 Accepted' The undersigned have reviewed the the In the above captioned matter and find that the assessments should be adjusted and that a hearing is not necessary.The parties agree that the"Stipulated Assesement(s)"should be applied in the Property Tax Appeal Board's decision. Acceptance for Appellant/Attorney Acceptance for Board of Review Acceptance for IMor enor Acceptance for Board of Review Acceptance for Intervenor Acceptance for Board ofReview Dissenting' Attorney Name: Ellen G. BedcshireA/erros, Lafakis 8 Berkshire,PC Bd.of Review Attn.Code 1084 Dissenting Board of Review Member/Commissioner Address: 33 N.LaSalle St., Ste. 2500 Chicago, IL 60602 Please transmit original stipulation as follows. In all counties other than Cook,send to: In Cook County,send to: STATE OF ILLINOIS STATE OF ILLINOIS PROPERTY TAX APPEAL BOARD PROPERTY TAX APPEAL BOARD ROOM 402 STRATTON OFFICE BUILDING SUBURBAN NORTH REGIONAL OFFICE FACILITY 401 SOUTH SPRING STREET 9511 WEST HARRISON STREET SUITE 141 SPRINGFIELD IL 62706-4001 DES PLAINES IL 60016-1563 1 (217)782-6076 (847)294-4121 PTAe-,stro t(N-Iaq]i IL-4024164 IC ADDENDUM Docket PIN Land Improvement Total 15-01717 09-08-27-439-001 $10,980 $896,240 $907,220 15-01717 09-08-27-409-002 $12,370 $0 $12,370 15-01717 09-08-27-409-003 $4,810 $0 $4,810 15-01717 09-08-27-409-004 $2,420 _ $0 $2,420 15-01717 09-08-27-409-005 $6,420 $0 $6,420 TOTAL $37,000 5896,240 $933,240 PTA&18 bad(N-10/00) • Property Tax Appeal Board `r: ' Stipulation Of Assessment(s) By The Parties Date: 2/24/17 n„f” Appellant(s): Canton Harvester Inn,LLC Docket Number(s): 15-01717 PIN(s): See Attached Addendum Stipulated Assessment Land,Improvement and Total Assessments must be completed for each parcel.Multiple parcels must be completed on the bark of this page or on multiple pages and the aggregate fimtre indicated below. Docket PIN Land Improvement Total 15-01717 See Attached Addendum $37,000 $896,240 $933,240 TOTAL $37,000 $896,240 $933,240 Accepted: The undersigned have reviewed the file in the above captioned matter and find that the assessments should be adjusted and that a hearing Is not necessary.The parties agree that the"Stipulated Assessment(s)"should be applied In the Property Tax Appeal Board's sddeciision. Acceptancseei for AppelkuWAttorney Acceptance for Board of Review Accep�tance� Acceptance for Board of Review Acceptance for Intervenor Acceptance for Board of Review Dissenting. Attorney Name: Ellen O.BerkshireNerros, Lafekis 8 Berkshire,PC Bd.of Review Attn.Code 1084 Dissenting Board of Review Member/Commissioner Address: 33 N.LaSalle St., Ste, 2500 Chicago, IL 60602 Please transmit original stipulation as follows. In all counties other than Cook,send to: In Cook County,send to: STATE OF ILLINOIS STATE OF ILLINOIS PROPERTY TAX APPEAL BOARD PROPERTY TAX APPEAL BOARD ROOM 402 STRATTON OFFICE BUILDING SUBURBAN NORTH REGIONAL OFFICE FACILITY 401 SOUTH SPRING STREET 9511 WEST HARRISON STREET SUITE 141 SPRINGFIELD IL 62708.4001 DES PLAINES IL 80018-1563 (217)782-8078 (847)294-4121 PP,&1etta4(N-ten% IL402-4164 - .�� Property Tax Appeal Board Stipulation Of Assessment(s) By The Parties r� t .,.rti� Date: 2/24/17 Appellant(s): Canton Harvester Inn, LLC Docket Number(s): 1402624 PIN(s): 09-08-27409-001 Stipulated Assessment: Lmd,imprarfmtmtand TIM Assessments must be completed for each parcel.Multiple parcels must be completed on the back of this page or on multiple pages and the angregate figure Indicated below. Docket. PIN Land Improvement Total 14-02524 09-08-27-409-001 $10,700 $922,540 $933,240 TOTAL $10,700 $922,540 $933,240 Accepted* The undersigned have reviewed the file in the above captioned matter and find that the assessments should be adjusted and that a hearing is not necessary.The parties agree that the"Stipulated Aesesament(s)"should be applied in the Property Tax Appeal Board's decision. Acceptancefore Appellant/Attorney Acceptance for Board of Review Acceptance In ve Acceptance for Board of Review - --- Acceptance for Intervenor Acceptance for Board of Review Dissenting• Attorney Name: Ellen G,BerkshireNerros, Latakia&Berkshire,PC Bd.of Review Attn.Code 1084 Dissenting Board of Review Member/Commissioner Address: 33 N. LaSalle St.,Ste. 2500 Chicago, IL 60802 Please transmit original stipulation as follows. In all counties other than Cook,send to: • In Cook County,send to: STATE OF ILLINOIS STATE OF ILLINOIS PROPERTY TAX APPEAL BOARD PROPERTY TAX APPEAL BOARD ROOM 402 STRATTON OFFICE BUILDING SUBURBAN NORTH REGIONAL OFFICE FACILITY 401 SOUTH SPRING STREET 9511 WEST HARRISON STREET SUITE 141 SPRINGFIELD IL 62708-4001 DES PLAINES IL 80016-1563 (217)782-8076 (847)294-4121 PTAS-181MM(N-laeD) 4) IL-49241M