Property Tax Appeal Board Decision 2005-00719-R-1 Meng & Li

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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds no change in the assessment of the
property as established by the Lake County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 42,388
IMPR.: $ 142,319
TOTAL: $ 184,707
Subject only to the State multiplier as applicable.
PTAB/EEB/Oct.07/2005-00719
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Bin Meng and Ying Li
DOCKET NO.: 05-00719.001-R-1
PARCEL NO.: 11-29-313-003
The parties of record before the Property Tax Appeal Board are
Bin Meng and Ying Li, the appellants, and the Lake County Board
of Review. For purposes of this hearing this matter was
consolidated with Property Tax Appeal Board Docket No. 04-
00365.001-R-1 for purposes of taking oral testimony only.
The subject property is a two-story style dwelling described as
a "Braemar" model. The home has a frame and stone exterior and
contains 3,234 square feet of living area that was built in
2000. Features include a full unfinished basement, central air
conditioning, a fireplace and a 615 square foot attached garage.
The subject property is located in Libertyville Township in
Vernon Hills, Illinois.
Appellant Ying Li, appeared before the Property Tax Appeal Board
on behalf of the appellants claiming unequal treatment in the
assessment process as the basis of the appeal. In support of
this claim, the appellants submitted a grid analysis detailing
four comparable properties, a summary argument letter along with
statistical sales ratio studies and analyses spreadsheets. The
comparables are located in the subject's subdivision. Three of
the comparables are two-story "Braemar" model style dwellings
and the fourth is a "Thornhill" model. Each comparable is of
brick exterior construction built between 1998 and 2000. The
"Braemar" model homes contain 3,238 square feet of living area,
while the "Thornhill" model contains 3,385 square feet of living
area. Features of the comparables include full basements,
central air conditioning, one fireplace and garages of at least
656 square feet of building area. One of the homes has a
finished basement area. The comparables had improvement