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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 Fulton County Board of Review is
warranted. The correct assessed valuation of the property is:
Docket No. Parcel No. Land Impr. Total
07-02117.001-R-1 09-08-26-201-014 5,000 40,000 45,000
07-02117.002-R-1 09-08-26-201-015 5,000 0 5,000
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Barbara Humes
DOCKET NO.: 07-02117.001-R-1 and 07-02117.002-R-1
PARCEL NO.: See Below
The parties of record before the Property Tax Appeal Board are Barbara Humes, the appellant, and the Fulton County Board of Review.
The subject property consists of two parcels, one of which has been improved with a one-story frame constructed single-family dwelling built in 2003. The dwelling consists of 1,720 square feet of living area and features central air conditioning, a crawl-space foundation, and an attached two-car garage. There was also a 48 square foot porch and a 360 square foot deck. The property is located in Canton, Canton Township, Fulton County, Illinois.
The appellant's petition indicated overvaluation as the basis of the appeal. In support of the overvaluation argument, appellant presented a limited summary appraisal prepared by James L. Mitchell of Mitchell Appraisal Service for a mortgage finance transaction. The appraiser estimated the subject property to have a market value of $149,000 as of May 6, 2005. In the Residential Appeal petition, appellant also reported the subject property was purchased in May 2005 for $76,470.
The total 2007 assessment of the two parcels is $55,380 which reflects an estimated fair market value of $171,032 based on the 2007 three-year median level of assessments for Fulton County of 32.38% as determined by the Illinois Department of Revenue.
The appraiser described the subject property as consisting of the two parcels for a total land area of 17,360 square feet. However, the appraiser further described the subject dwelling as consisting of 1,573 square feet of living area, which differs from the 1,720 square feet reported by the appellant on the Residential Appeal petition.