The first Lake County township assessment rolls will be published this week, with Zion and Fremont Township appearing in local newspapers in those areas on August 11. With this being the general assessment year, all properties are to be reviewed by the local Township Assessor. As is Lake County's annual practice, every taxpayer will receive an assessment notice this year. The list of all assessments in a township is published on our website and in local newspapers. The newspaper publication will only show the total value for each parcel, on our website you will see the assessment broken down into land and building value components.

In 2011, township assessors are charged with conducting a general assessment of all of the properties in their jurisdiction.  General assessment years occur every four years per state statute.  The purpose of the general assessment year is to review and revalue properties within a township, with the result being fair and consistent assessed values.

As a result, you are likely to see township staff in your neighborhoods reviewing properties over the next few months in advance of the completion of this year's assessment roll.  Assessors will be checking property characteristics of individual parcels, along with understanding the qualities of each area of the township.

If you were a residential property owner who had a reduction in assessed value from the Board of Review recently, that value modification will not carry forward to 2011.  In a sense, the general assessment year provides the opportunity for the township assessor to adjust the valuation and re-establish equity in the tax burden of the property tax across the properties in each jurisdiction.

Prior to filing an appeal with the Board, it is strongly recommended that a taxpayer discuss his/her assessment with the Township Assessor's Office. Many times the reason for the assessment can be made clear and the need for filing an appeal eliminated. If, after talking with the Township Assessor's Office, a taxpayer still wishes to pursue an appeal, he/she should familiarize him/herself with the 2011 Rules of the Board.

New for 2011, the Board of Review has published a checklist for appeal cases. This checklist will provide guidance on meeting the minimum expectations for a Board of Review case.

If I have recently purchased my home and my assessment valuation reflects a market value higher than my purchase price, what can I do?

Generally, this is the most straight forward type of assessment related circumstance.  We suggest that you take information on your purchase and discuss your assessment valuation with your township assessor's office.  Assessors can recommend a change in your assessment valuation to the Board of Review and in cases involving recent sales; the assessed valuation is often adjusted in some way. 

If you find that your township assessor's office is unable to make a recommendation to the Board of Review, you may need to file an assessment appeal. The Board of Review requires that in these types of appeal cases that an appellant provide:

• the HUD-1 closing statement for the transaction and
• a copy of the PTAX-203 transfer declaration. 

Most people have the HUD-1 in their closing papers, yet the PTAX-203 is not always provided.  If you are in the middle of a purchase process, be sure to ask for a copy of the PTAX-203 after you sign that document.  If your sale has already taken place, you can get a copy of your transfer declaration from your township assessor's office, Recorder of Deeds Office or from the Chief County Assessment Office.

No.  The Board of Review has been increasingly busy over the past four years and they believe that in many instances there is no reason to request to appear in person for a hearing.  There is a "no hearing" option where taxpayers have their case heard on the evidence submitted.  In residential property cases involving recent sales (2010 and 2011) and appraisals (by a licensed professional appraiser) as evidence in the case, the Board of Review would recommend you not ask for an in-person hearing and instead have the case decided on the evidence provided.

This year when using our comparable search program to find sales that have occurred in your area, all sales will be displayed regardless of their particular circumstance. As a result, when searching for comparable sales you will see transactions that are classified as foreclosures, short sales, Judicial Sale, or Sheriff's Sale. In addition, if a sale has yet to be reviewed by the local assessor, that sale will appear in search results as "not validated". Definitions of these types of transactions can be seen here.

If you have not submitted your 2011 Senior Citizen Assessment Freeze Homestead Application, there is still time to do so. We mailed the forms in April, and set a deadline to receive them by July 1. This deadline has been extended so that we can ensure you receive the exemption benefit on your next property tax bill.

To qualify for the Senior Freeze homestead exemption one must be 65 years of age, own the home as of January 1, 2010 through January 1, 2011 and have a total household income of $55,000 or less.

2011 Senior Citizen Assessment Freeze Homestead Exemption Application