Committee forwards $250,000 industrial and commercial revaluation to finance after selecting SVS

An Evaluation Committee representative presented the Industrial and Commercial Revaluation Project to the Grundy County Election, Tax and Technology Committee on Aug. 5 and the committee voted to send the project to finance for approval.

The representative said the county intends a countywide reassessment of commercial, industrial and special-use parcels to ensure assessments comply with Illinois statutory requirements and to modernize valuation practices. The representative described a procurement process that yielded two qualified bidders: Standard Valuation Services (SVS) of Willowbrook and AreaProbe, located on the East Coast. Evaluation criteria included Illinois experience, GIS integration, appeal support, scheduling, cost structure and references; the presenter said both firms had near-identical pricing but SVS was a better logistical fit and offered a more extensive on-site partnership.

The project’s total estimated cost is $250,000 and will be charged to the general fund professional-services line; the speaker said the amount has been included in the upcoming budget. The representative said the anticipated timeline for the project is about one year and that the scope could include post-project market monitoring depending on contracting details.

Committee member Nathaniel Green moved to send the reevaluation to finance; Deb Warneen seconded. After a verbal roll-call procedure of "All in favor, say aye," the chair recorded the motion as carried. The committee chair said the item will go to the finance committee on the 14th and later to the county board.

Committee members asked about cost-recovery expectations and the possibility of ongoing market monitoring after the initial reassessment. The presenter said potential increases in assessed value may produce fiscal recovery but exact amounts will only be known after the reassessment results are finalized.