Oct 2, 2024

Assessor’s Office News and Information

The 2024 Nunda Township Assessment Roll was certified to the McHenry County Supervisor of Assessments office on September 13, 2024. The Supervisor of the Assessments office will now spend some time completing their necessary tasks prior to publishing the assessment roll and mailing out assessment notices for 2024. Please check the Nunda Township Assessors Office website assessor@nundatownship.com for updates on the publication date, as of this date I anticipate a publication date no later than the end of October.

2024 is a Non-General Assessment Year. In a Non-General Assessment Year most property assessments will change due only to the equalization process. The remainder of the changes will be due to mapping changes, new construction, additions, demolition etc.

For assessment year 2024 the indicated assessment level for Nunda Township based on a Three-Year Average is 29.89 of Market Value. The Illinois Department of Revenue requires a level of assessment of 33.33 of Market Value the indicated under assessment of (29.89) will be corrected through the equalization process at the county level. The indicated equalization factor indicated is 1.1151, which is calculated by using the required assessment level of 33.33 and dividing by the current Three-Year Average for the township, which is 29.89. (33.33/29.89 = 1.1151)

The level of assessment and resulting equalization factor shown above are indicative of patterns we are seeing throughout McHenry County, Lake County, Kane County and I imagine throughout the rest of the state as well as nationwide, most property assessments are lagging in relationship to the Real Estate Market activity due to many economic issues. This is not to say this is true across the entire spectrum of the Real Estate Market, some areas of the Market are still in recovery mode, such as the Office Market, which we are still seeing Vacancy Issues. The Commercial Market within the township has seemed to get back on solid footing with less vacancy. The Industrial Market in the township continues to show positive signs with little to no vacancies.

An increase in your property assessment is something you should be encouraged by and not be in fear of. Our homes are typically our greatest investment, and we would like to see an upward trend in our property assessment (if warranted). Increases in property assessments due strictly to equalization will not necessarily result in increased tax bills.

When assessment rolls expand, and spending remains constant, tax rates decline. Remember, property assessments serve only to apportion the tax burden which is created by the various taxing authorities shown on your tax bill. As taxpayers the spending part of the of the equation should receive as much attention as your property assessment.

Remember when you receive your property assessment to verify you are receiving all the exemptions you are entitled to (Exemptions = Savings). After you review your Assessment Notice, and if you are not in agreement with the proposed Assessment you are given 30 days from the date on the letter to appeal your assessment.

During the 30 days we will once again conduct informal reviews of information provided by property owners or their representatives that would indicate a possible change to your proposed assessment.

An informal review may eliminate the need to file a formal appeal with the McHenry County Board of Review.

Your Nunda Township Assessment Office Website is a valuable tool and resource for reviewing and collecting information related to Market Value and Property Assessments. There are sale books for you to review that show sale activity throughout the township, in addition there are tools to search and select comparable property sales as well as comparable assessments.

Information that you would like to provide our office for an informal review, can be e-mailed to our office, our e-mail address is assessor@nundatownship.com, You will need to provide page 1 of the McHenry County Board of Review appeal form, primarily your contact information, your estimate of assessed value, in addition if you are appealing based on comparable sales or assessments a completed grid should be submitted.

A link to the McHenry County forms can be found by visiting our website.

In addition to e-mailing our office, we have a mail slot where you can drop off (after hours) the information that you would like us to review. Please remember we are also available for your phone calls regarding your assessment or exemption questions. Exemption information can be reviewed at assessor@nundatownship.com.