Given the downturn in the housing market, I assume the assessed value of my home did not appreciate, correct?
Incorrect. Actually, township assessors increased assessed values of homes in this area during the past year. It is our understanding that current assessed values were calculated using averages from 2004, 2005 and 2006. If you look for evidence of this on your tax bill, you will not find it. The year-to-year change in the assessed value of your home is missing. Unfortunately, this lack of information has led many to assume incorrectly that assessed values did not rise because of the housing market downturn. However, you can view the change in your home’s assessed value online at http://www.co.kane.il.us/webapps/SOA/kane.htm or call your township assessor’s office.
