On January 20, 2006, the Illinois Supreme Court affirmed the decision of both the Illinois Appellate Court, First District, and the Circuit Court of Cook County, granting the defendant's motion to dismiss with prejudice.
The Illinois Property Tax Appeal Board has amended Part 1910 of Title 86, 86 Ill Adm Code 1910. The Board has added new sections and amended the Part with regard to motions, notice and consolidation of appeals.
On June 17, 2005, the Mortgage Escrow Account Act (Act) (765 ILCS 910/1 et seq) was modified from its original form so as to broaden the scope of "mortgage lender" to include savings banks, credit unions, mortgage bankers, and one who services the loan.
On December 2, 2004, the Illinois Supreme Court reversed the orders of the appellate and circuit courts, which reversed the Illinois Department of Revenue's (Department) holding that the property in question was not tax exempt.
On December 9, 2004, the Illinois Appellate Court, Second District, affirmed in part, vacated in part, and remanded in part the decision of the Circuit Court of McHenry County awarding the plaintiffs certain property by reason of adverse possession.
The Department of Revenue recently adopted amendments to the Real Estate Transfer Tax, 86 Ill Adm Code 120. Effective October 13, 2004, the changes affect sections 120.5, 120.10, and 120.20 of the code.