Property Tax Appeal Board Decision 2004-22630-R-1 Wells

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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 Cook County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 26,266
IMPR.: $ 70,388
TOTAL: $ 96,654
Subject only to the State multiplier as applicable.
PTAB/KPP
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Richard A. Wells
DOCKET NO.: 04-22630.001-R-1
PARCEL NO.: 02-17-200-007
The parties of record before the Property Tax Appeal Board
(hereinafter PTAB) are Richard A. Wells, the appellant; and the
Cook County Board of Review.
The subject property consists of a 248,292 square foot parcel
improved with an eight-year old, two-story, masonry, single-family
dwelling. The improvement contains 5,525 square feet of
living area with a full basement, five bathrooms, two fireplaces,
central air conditioning and a four-car garage. The appellant's
pleadings raised several issues: first, that the subject's land
assessment is excessive because it is sited within a flood plain;
and second, that there was unequal treatment in the assessment
process of both the land and the improvement as the bases of this
appeal.
In support of the equity argument, the appellant presented
evidence of assessment data, descriptions, and color photographs
on four properties located from an eight-block to twelve-block
radius of the subject. The properties are improved with a two-story,
masonry or frame, single-family dwelling. They range: in
baths from three to five; in age from 4 to 17 years; in size from
5,264 to 5,829 square feet of living area; and in improvement
assessments from $7.23 to $16.20 per square foot. Amenities
include a full basement, air conditioning, two fireplaces and a
multi-car garage. The land analysis reflected parcels that range
in size from 54,363 to 87,206 square feet with land assessments
that range from $11,519 to $18,378. The assessor database
printouts reflect that property #1 contains a partial assessment.
The appellant also submitted a copy of a PTAB decision rendered
for tax year 2001 regarding the subject property under docket
#01-26519-R-1. He also included copies of closing statements for