Don't put up with higher tax bill

Property owners across the country are objecting to their real estate tax assessment this year. Not too soon, however, given the slump in values and in sales throughout Kane County. Supervisor of Assessments Mark Armstrong was quoted recently as saying that the median sales price of homes for January 2008 had declined 5.3 percent.

Many homes are overassessed and have been for years given the practice of jacking up the assessed value each year by some arbitrary percentage before the township assessor makes adjustments. It is good news that Mr. Armstrong understands the declining values and is ready to revalue 2008-09 in a fair and reasonable way.

A decline of 5.3 percent would mean that a $200,000 home would be revalued at less than $190,000 which is still likely to be above the price a seller would get in this market. What this does is to give all the timid homeowners a reason to step up and object to the assessment on their property without being beaten down by the statement that housing values are always on the way up.

This is your year to get your property assessment adjusted to what your property may really be worth and cut your real estate tax cost. Do not fail to talk with your township assessor about the value of your property. Only a fool pays more taxes than they should.

Mark Anderson

St Charles