Property Tax Appeal Board Decision 2005-00573-R-1 Zielke

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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 Will County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 35,731
IMPR.: $ 9,014
TOTAL: $ 44,745
Subject only to the State multiplier as applicable.
PTAB/MRT/7/15/08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Duane Zielke
DOCKET NO.: 05-00573.001-R-1
PARCEL NO.: 16-05-20-100-033
The parties of record before the Property Tax Appeal Board are
Duane Zielke, the appellant; and the Will County Board of Review.
The subject property consists of a 3.441-acre parcel improved
with a 2,283 square foot pole barn, a 2,172 square foot block
barn with a 1,090 square foot metal barn addition, a silo and a
1,136 square foot detached garage.
The appellant submitted evidence to the Property Tax Appeal Board
claiming overvaluation as the basis of the appeal. In support of
this argument, the appellant submitted an appraisal of the
subject's land only with an effective date of June 13, 2005.
Even though the report valued only the subject's land, the
appraiser included numerous photographs of the exteriors and
interiors of the subject's improvements. The appraiser used only
the sales comparison approach in estimating a value for the
subject's land of $112,000. The appraisal indicated in several
places that the subject contains 3.2 acres. The report indicated
the appraisal assignment appeared to be for the purpose of
valuing vacant land for mortgage lending purposes. The appraiser
examined three comparables that were located 1.99 to 4.47 miles
from the subject. The comparables range in size from 2.02 to
6.00+ acres and were reported to have sold between February and
December 2004 for prices ranging from $38,500 to $202,000 or from
$6,417 to $98,161 per acre. The appraiser adjusted the
comparables for such factors as site or view, availability of
utilities and size. After adjustments, the comparables had
adjusted sales prices ranging from $68,500 to $191,500 or from
$11,417 to $94,802 per acre. The appellant also submitted copies
of several newspaper articles that discussed a proposed extension
of Interstate 355 in the subject's vicinity. Based on this
evidence, the appellant requested the subject's total assessment