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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 Peoria County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 30,160
IMPR.: $ 172,540
TOTAL: $ 202,700
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: McDonald Corp.
DOCKET NO.: 06-00208.001-C-1
PARCEL NO.: 18-07-230-012
The parties of record before the Property Tax Appeal Board are McDonald Corp., the appellant, by attorney Clyde B. Hendricks of Peoria and the Peoria County Board of Review.
The subject parcel contains 22,751 square feet of land that has been improved with a one-story concrete block and frame building of 3,992 square feet of building area built in 2000. The property is located in Peoria Township.
The appellant through counsel appeared before the Property Tax Appeal Board contending a lack of uniformity in the assessment process as the basis of the appeal, disputing only the subject's improvement assessment. In support of this inequity argument, the appellant presented an assessment analysis prepared by Vivian E. Hagaman.
Hagaman testified she was hired to do a search as an appraiser and prepared most of the evidentiary material presented in the appeal. Hagaman has 10 years of appraisal experience in commercial and residential properties along with an Associate Real Estate Appraiser license from the State of Illinois. Hagaman testified she spoke with the township assessor and determined the cost approach was used in calculating the subject's assessment and therefore she based her analysis upon the cost approach.
In performing her analysis, Hagaman looked at the property record cards for each comparable and examined the condition, desirability, and utility (CDU) notation as set forth by the township assessor along with the grade. Hagaman prepared an assessment analysis using seven equity comparables which she found to be the most similar. Hagaman further acknowledged that while the subject is a fast food restaurant with available seating and a drive-thru window, the comparables were more full-service restaurants. She indicated in her written materials that she adjusted the equity comparables in relation to the subject for grade "as prescribed by the most current Illinois Property