Take a look at your reassessment
By now everyone in Dundee Township has received their "revised" property assessment from our township Assessor Dan McMahon. I am assuming most people received an increase in their assessment, which equate to paying higher real estate taxes next year and every year after that. The township re-evaluates our assessment every three years, which was done in 2007. The assessed value is supposed to represent 33 percent of the market value of your home, based on a three-year market average. Last year most homeowners saw a significant increase in their assessed value even though the market value of homes were declining. I protested my taxes last year because I felt the market value of my home was overstated.
This year, Assessor Dan McMahon again increased my assessed value. In other words, Mr. McMahon determined my house's value increased $30,000 from last year. Does anybody think home values increased at all in the last three years? If your assessed value increased, call Dan McMahon and find out why he increased the value of your home when prices of real estate have been dropping as fast as the stock market. Beware another factor that increases your assessed value is the state equalization factor, which also increased approximately 3 percent. Thank the politicians in Springfield for that.
I find all this extremely troubling when our county and township are trying to suck more tax dollars out of us when more many families are struggling in this poor economy. I assure you this will push many families to sell their homes or worst yet, walk away completely as a result of our assessor's attempt to increase revenue instead of finding ways in cutting expenses.
Bottom Line: This is an incredible injustice to the homeowners of this county and township. You can and should protest your assessed value, but you must do it within 30 days of your notice. If everyone stands up against this abuse of power, changes will be made and you might keep some of your hard earned dollars.
Steve O'Neill
Sleepy Hollow