Property Tax Appeal Board Decision 2005-00564-R-1 Thorp

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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds a reduction in the assessment of the
property as established by the Will County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 12,669
IMPR.: $ 46,181
TOTAL: $ 58,850
Subject only to the State multiplier as applicable.
PTAB/OCT.07/BUL-6479
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Jill M. Thorp
DOCKET NO.: 05-00564.001-R-1
PARCEL NO.: 11-04-05-215-046-1001
The parties of record before the Property Tax Appeal Board are
Jill M. Thorp, the appellant; and the Will County Board of
Review.
The subject property consists of a two-story frame townhouse
containing 1,627 square feet of living area that was built in
2001 over a concrete slab foundation. Features include central
air conditioning, a fireplace, and a two-car attached garage.
The dwelling is commonly known as an Andover model townhouse.
The appellant appeared before the Property Tax Appeal Board
claiming both overvaluation and unequal treatment in the
assessment process as the bases of the appeal. The subject's
land assessment was not contested. In support of these claims,
the appellant submitted photographs, property record cards, real
estate transfer declarations and a grid analysis detailing three
suggested comparables located in close proximity to the subject.
The comparables are two-story frame townhouses that were built in
2000 or 2001 over concrete slab foundations. Comparable 1 is a
Capri model townhouse; comparable 2 is a Waterford model
townhouse; and comparable 3 is a Lakeside model townhouse. The
comparables have central air conditioning, a fireplace, and two-car
garages. The dwellings are reported to range in size from
1,627 to 1,851 square feet of living area. They sold between
March and July of 2004 for prices ranging from $160,000 to
$171,000 or from $92.38 to $101.41 per square foot of living area
including land. Comparables 2 resold in June 2005 for $174,900
or $94.48 per square foot of living area including land. The
subject property was purchased in August 2001 for $171,923 or
$105.67 per square foot of living area including land.
The comparables have improvement assessments ranging from $41,393
to $48,399 or from $25.44 to $28.01 per square foot of living