Property Tax Appeal Board Decision 2006-01259-R-1 Claunch

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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 Madison County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 1,720
IMPR.: $ 21,650
TOTAL: $ 23,370
Subject only to the State multiplier as applicable.
PTAB/smw/06-01259/7-08
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Cindy Claunch
DOCKET NO.: 06-01259.001-R-1
PARCEL NO.: 22-2-20-18-11-203-053
The parties of record before the Property Tax Appeal Board are
Cindy Claunch, the appellant; and the Madison County Board of
Review.
The subject property is improved with a two-story multi-family
building that contains 4,258 square feet of building area. The
building is of brick construction and was erected in 1905.
Features include a full basement, three bathrooms and central air
conditioning. The property is located in Granite City, Granite
City Township, Madison County.
The appellant contends the market value of the subject property
is not accurately reflected in its assessed valuation. On the
petition the appellant indicated the subject property had a fire
that gutted one apartment making it not habitable resulting in
the subject having 3,193 square feet of usable living area. In
further support of this argument the appellant stated on the
petition the subject was purchased in April 2004 for a price of
$46,500 or $10.92 per square foot of total building area. She
further indicated the parties to the transaction were not related
and the property was sold by the owner. In addition, the
appellant provided information on three comparable sales. The
comparables were improved with two-story brick multi-family
buildings that ranged in size from 3,468 to 4,404 square feet of
living area. The comparables were located from 3 to 9 blocks
from the subject property and were constructed in either 1900 or
1920. Each comparable had a basement and two comparables had
central air conditioning. The properties sold from February 2006
to March 2007 for prices ranging from $12,500 to $78,450 or from
$3.60 to $21.55 per square foot of building area. The evidence
further revealed that the appellant did not file a complaint with
the board of review but filed an appeal directly to the Property
Tax Appeal Board following receipt of the notice of an