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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 Champaign County Board of Review
is warranted. The correct assessed valuation of the property
LAND: $ 11,130
IMPR.: $ 15,990
TOTAL: $ 27,120
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Steve Bantz and Stan Jenkins
DOCKET NO.: 06-00248.001-R-1
PARCEL NO.: 43-20-13-252-041
The parties of record before the Property Tax Appeal Board are
Steve Bantz and Stan Jenkins, the appellants, and the Champaign
County Board of Review.
The subject property consists of a 102-year old single story
frame dwelling that contains 800 square feet of living area.
Features include a full unfinished basement.
The appellants contend the market value of the subject property
is not accurately reflected in its assessed valuation. In
support of this overvaluation argument, the appellants submitted
a real estate listing depicting the property sold in January
2007 for $65,000, which included $1,000 of personal property. A
real estate transfer declaration sheet and a letter from a real
estate broker were also submitted to support this claim. The
appellants also submitted the final decision issued by the
Champaign County Board of Review establishing a total assessment
for the subject of $28,480, which reflects a market value of
approximately $85,809 or $107.26 per square foot of living area
including land, using the three-year median level of assessments
for Champaign County of 33.19% as determined by the Illinois
Department of Revenue. Based on this evidence the appellants
requested the subject's total assessment be reduced to $27,120
or $33.90 per square foot of living area, including land.
The board of review submitted its "Board of Review Notes on
Appeal" and three comparable sales in support of its assessed
valuation of the subject property. The sales comparables were
located within three blocks of the subject. These comparables