The 2016 property assessment notices will be mailed to property owners from the County on Monday August 29th. Any parcels that had a change made to them (other than One caused by the application of the township factor) will be published in the Northwest Herald on Wednesday August 31st.
If you do not receive your notice you can call my office to get those figures. We do not have copies of the notice but we can give you your 2016 assessment and resulting market value.
The 2016 McHenry Township Equalization Factor will be 1.0740. This is the first time since 2008 that we have received a positive factor. The equalization factor is determined by the Illinois Department of Revenue based on a three year Sales Ratio Study which analyzes the arms length sales that have occurred in 2013, 2014 and 2015 and compares them with the previous year’s assessment.
The data used to determine the equalization factor indicates that the 2016 assessments in McHenry Township must be increased by 7.40% over the 2015 assessments due to market sales that are now higher than the assessment levels currently in place. The required level of assessments is 33.33%; our three year average level of assessments is 31.03%. In order to get to the statutory level of assessments a factor of 1.0740 is required.
If you believe that the 2016 fair cash value (market value) of your property is too high compared to sales of similar properties, you may appeal the assessment. Additionally, if you feel your property is not assessed in the same manner as similar properties in your neighborhood, you can appeal the assessment.