Property Tax Appeal Board Decision 2006-00953-R-1 Smith

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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 Madison County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 14,570
IMPR.: $ 59,610
TOTAL: $ 74,180
Subject only to the State multiplier as applicable.
PTAB/smw/06-00953/10-08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Douglas and Cheryl Smith
DOCKET NO.: 06-00953.001-R-1
PARCEL NO.: 13-2-21-01-18-302-017
The parties of record before the Property Tax Appeal Board are Douglas and Cheryl Smith, the appellants; and the Madison County Board of Review.
The subject property is improved with a one-story dwelling of frame and masonry exterior construction containing 1,854 square feet of ground floor living area. The dwelling was constructed in 2002. Features of the home include a full basement with 900 square feet of living area, central air conditioning, a fireplace and a 575 square foot attached garage. The property is located in Maryville, Collinsville Township, Madison County.
The appellants' appeal is based on unequal treatment in the assessment process. In support of this argument the appellants submitted information on four comparable properties described as one-story frame dwellings that range in age from 3 to 5 years old for consideration. The comparables range in size from 1,404 to 1,752 square feet of ground floor living area. Each comparable has a full basement with finished area ranging from 930 to 1,300 square feet. Each comparable also has a fireplace, central air conditioning and an attached garage ranging from 528 to 714 square feet. These properties have improvement assessments ranging from $53,650 to $61,340 or from $33.94 to $38.21 per square foot of ground floor living area. The appellants also indicated the comparables had assessments ranging from $20.21 to $21.38 per square foot of living area including the living area in the basement. The subject has an improvement assessment of $32.15 per square foot of ground floor living area or $21.64 per square foot of living area including the basement living area. Based on this evidence, the appellants requested a reduction in the subject's improvement assessment.
The board of review submitted its "Board of Review Notes on Appeal" wherein the subject's final assessment of $74,180 was disclosed. The board of review presented descriptions and