Property Tax Appeal Board Decision 2004-02584-R-1 Richert

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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 Winnebago County Board of Review
is warranted. The correct assessed valuation of the property is:
LAND: $ 3,203
IMPR.: $ 37,084
TOTAL: $ 40,287
Subject only to the State multiplier as applicable.
PTAB/DEC.07/BUL-6611
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Scott and Amy Richert
DOCKET NO.: 04-02584.001-R-1
PARCEL NO.: 11-13-183-015
The parties of record before the Property Tax Appeal Board are
Scott and Amy Richert, the appellants, and the Winnebago County
Board of Review.
The subject property consists of a two-story brick and frame
dwelling containing 3,038 square feet of living area that is
approximately 97 years old. Features include an unfinished
basement, central air conditioning, a fireplace and a 648 square
foot detached garage.
The appellants submitted evidence before the Property Tax Appeal
Board claiming overvaluation as the basis of the appeal. The
appellants' evidence disclosed subject property is an owner
occupied residence that was the subject matter of an appeal
before the Property Tax Appeal Board the prior year under docket
number 03-00714.001-R-1. In that appeal the Property Tax Appeal
Board rendered a decision lowering the subject's assessment to
$32,000 based on its April 2003 sale price of $96,000. The
record also indicates the appellants further improved the subject
dwelling through renovation at a cost of $24,860 subsequent to
the sale. The improvements include a new roof, upgraded
electrical system, a new furnace, plumbing work and sanding
floors. Based on this evidence, the appellants requested a
reduction in the subject's assessment to reflect the Board's
prior year's assessment finding of $32,000.
The board of review submitted its "Board of Review Notes on
Appeal" wherein the subject's final assessment of $41,170 was
disclosed. The subject's assessment reflects an estimated market
value of $123,153 using Winnebago County's 2004 three-year median
level of assessments of 33.43%.