E: MOBOR, LLC.

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E ) Property sale / MOBOR, LLC. from Richard Bursua

( property never reassessed to reflect purchase price after the sale )

  1. In December of 2011, MOBOR LLC. ( Osman ) purchased five lots including a medical building from Dr. Richard Bursua. This property is located on North Russell Street in Marion, Illinois.

  2. Courthouse records show that the purchase price was $ 600,000.00.

  3. The assessed fair cash value for this property totaled $ 378,660.00 for the 2010/2011 tax year.

  4. For the 2011/2012 tax year, the tax assessor did not reassess this property to reflect the purchase price of $ 600,000.00, even though the 2011/2012 tax bills were put into MOBOR, LLC.’s name.

  5. The Williamson County Tax Assessor did not reassess this property for the 2012/2013 year either.

  6. This failure to reassess this property due to recorded sale transaction equates to a roughly 40% discount on the taxes due for this property.

  1. The rough estimate for tax monies the county has been defrauded of in this transaction alone is approximately $ 5,000.00.

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