How to Appeal Your Property Assessment

If you believe your assessment is too high it is your right, as a property owner, to appeal that assessment. However, there should be a specific basis of the appeal – not general statements about overall market values.

When can I Appeal?

It is critical that you request a reassessment within the allowed timeframe – before our annual cutoff (June 15, 2011) so that we have the time to submit the assessments for that year or within the 30-day published appeal period. Once the legal 30-day appeal period is closed it is too late to appeal the assessment for that year.

How Do I Appeal My Property Assessment?

Before our annual cutoff (June 15, 2011), you can request a reassessment application from our office. After the township cutoff date, we request that you wait until you receive the assessment notice from the county, use the county Board of Review forms, and send the completed form to the county. They will forward a copy to this office for review. Both forms use similar approaches to collect and review the evidence.

Board of Review forms are available on the McHenry County website

Board of Review Forms

There are three ways to enter evidence on the forms.

1. Comparable Sales / Assessments:

Comparable properties must be representative of similar neighborhoods and similar building styles and construction. Using a raised ranch sale or assessment for a brick ranch home does not qualify as a comparable. Using a ranch as a comparable for a
multi-story home also does not qualify as a comparable. If you have a ranch – you must use data from other ranches. If you have a multi-story – you must use data from other multi-story buildings. A minimum of three comparables up to a maximum of six comparables is a good basis for analysis. Identify the homes that you believe are comparables. Try to stick to properties in Greenwood Township. Complete the form as instructed. Because the land already has uniformity within the area, most of the analysis is done on the building assessment. Divide the building assessment by the total building square foot to determine the building EAV per square foot. If your building has a higher price per square foot is there a reason it should be higher– more plumbing fixtures, porches, garages, basements or central air vs. the comparables? Divide the total market value also by the building square foot to determine the full market value per square foot. Similarly to volume packaging for a box of cereal, the larger box has a lower price per ounce than a smaller box. This typically holds true for buildings as well. Smaller homes will typically have a higher EAV per square foot than larger ones.

2. Recent Sale Information:

If the property was recently purchased information about the transaction should be entered on the form.

3. Recent Appraisal:

A recent bank or fee appraisal (value ‘as of’ date of January 1, of the current year is best).  Estimates of market value provided by real estate agents are not as reliable as a regular appraisal. On-line appraisal sites, such as Zillow.com and Realtor.com, are not appropriate for determining comparative values.

County Board of Review Hearings:

The Board of Review will assign hearing dates (once assigned, they cannot be changed). Hearings are scheduled every 15 minutes and evidence is heard from both the owner and the assessment office. The Board Members will decide at that time if an adjustment is appropriate or not.