Other Assessment Issues

Other Assessment Issues

Check the characteristics used to create the assessed valuation

Your property assessment is based upon the characteristics of your home. Characteristics is the broad term used to encompass the many features of your home such as the square footage, basement or crawl space, number of bathrooms, fireplace, etc. There are several ways to verify the information; phone my office, review the new assessment notice or the use the web. The easiest approach is to use the Lake County website (address is below). Enter your PIN or address and a report is generated detailing the characteristics. Also there is the drawing of your home noting the dimensions used to compute the living area. Should there be an error please contact my office and we can make a correction. We want to eliminate any errors to have accurate records in order to create a fair valuation for your property.

Condition of your property

Normal wear and tear items affecting the condition of your property such as roof, siding or window replacement do not affect assessed value. However, if there are major issues such as deteriorating foundation or other structural damage, these may be issues that need to be addressed. It is impossible for my office to know the details of each home’s problems. Yet we can make an inspection of your home and review the damage estimates to repair and possibly make short term adjustments to your property’s valuation.

Monitor your local market

Watching the homes that are listed and sold in your immediate neighborhood is the best way to find comparable sales. Information from those local sales and listings can help determine if your assessment is correct.

Hiring and Tax Consultant or Lawyer

There are many companies that provide a real estate tax service to homeowners. Tax consultants and lawyers can do all the work of an assessment review and possible appeal for you – for a fee. It is your choice to decide to do so. My office makes every effort to assist the homeowner and encourages persons to forgo the costs and do it yourself.

Lake County Board of Review

I would like to stress again to discuss any valuations issues with my office before filing a formal appeal to the Board of Review. In many cases if the evidence supports a reduction, we will do so. However there may be cases where we can not reach an agreement, then it may be necessary to file an appeal. There is a prescribed form to complete and there is an appeal deadline which is 30 days after the assessment are published. The taxpayer must supply evidence of the property’s value; the same evidence detailed in other articles. There will be a hearing scheduled before the Board where each side will present evidence of the property’s value. Generally, the hearing is less than 15 minutes. Please do not feel intimidated by this process.