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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 Lake County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 15,675
IMPR.: $ 105,600
TOTAL: $ 121,275
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Zhuming Ai
DOCKET NO.: 05-02522.001-R-1
PARCEL NO.: 15-28-103-034
The parties of record before the Property Tax Appeal Board are Zhuming Ai, the appellant, and the Lake County Board of Review.
The subject property consists of a multi-level frame dwelling containing 1,852 square feet of living area that was constructed in 1987. Features include a partial unfinished basement, central air conditioning, a fireplace, and a 434 square foot attached frame garage. The subject dwelling is commonly known as a "Cambridge" model dwelling. The subject dwelling is situated on an 8,756 square foot lot.
The appellant submitted evidence before the Property Tax Appeal Board claiming a lack of uniformity regarding the subject's land and improvement assessments. In addition, the appellant submitted evidence showing the Property Tax Appeal Board rendered a decision lowering the assessment of the subject property the prior assessment year to $92,616 under Docket Number 04-00773.001-R-1. Based on this decision, the appellant requested the Board to carry forward its prior year's decision to the subsequent assessment year since the subject dwelling is an owner occupied residential property.
In support of the inequity claim, the appellant submitted the same three comparables as submitted in the 2004 appeal. However, property record cards submitted by the board of review show the appellant used incorrect dwelling sizes and 2004 assessment amounts for this 2005 appeal. The comparables consist of multi-level frame dwellings that were built in 1986 or 1987 and are "Cambridge" model dwellings like the subject. Features include partial unfinished basements, central air conditioning, and attached frame garages that contain 434 square feet. Comparable 2 has a fireplace. The dwellings contain 1,852 square feet of living area and have 2005 improvement assessments ranging from $91,074 to $94,439 or from $49.18 to $50.99 per square foot of living area. The subject property has an improvement assessment of $105,600 or $57.02 per square foot of living area.