Grundy County approves $250,000 contract for commercial and industrial revaluation
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Summary
County board selected Standard Valuation Services for a commercial and industrial reassessment to create a single, modernized baseline for industrial/commercial property values; project cost $250,000 from general fund professional services.
The Grundy County Board approved hiring Standard Valuation Services (SVS) to perform a countywide commercial and industrial revaluation at a total cost of $250,000, county staff and economic development officials said.
County staff and the Grundy Economic Development Council presented the contract and said the revaluation will take approximately one year and is intended to provide a uniform, up‑to‑date assessment of commercial and industrial properties across townships and to reduce appeal risk and improve transparency for prospective investors. SVS was selected from two respondents after interviews; staff cited SVS’s experience in Illinois and other states, its capacity to integrate with the county’s GIS and DevNet (Grama) systems, and a dedicated legal liaison for appeals support.
The county will fund the work from general‑fund professional‑services appropriations earmarked in next year’s budget. County staff and the economic development representative told the board the county expects long‑term savings from fewer costly appeals and improved EAV accuracy; staff said the revaluation would likely change the equalized assessed valuation (EAV) mix by correcting under‑ and over‑assessments across industrial and commercial properties.
The project received unanimous positive recommendations from the Tax & Tech committee and Finance Committee before the Board vote. Staff estimated the implementation timeline at one year, timed to align with the county’s next quadrennial assessment cycle.
Provenance - Topic introduction excerpt: "Nancy Norton with the Grundy Economic Development Council... I have indeed been a proponent of encouraging that there would be, a consultant or company come in to help with the commercial and industrial assessments." (transcript segment starting at 2325.395). - Topic finish excerpt: "I will entertain a motion to accept by Joe Pulizzi, second by Jeff Wynne. Discussion? Go ahead, Jeff. Or I'm sorry, Doug." (transcript segment starting at 2810.1199).