Board reduces assessment for Marcel Drive property after ruling 2.25 acres are in protected environmental corridor

The Board of Review adjusted the assessed value for a Marcel Drive property Sept. 17 after owner Mark Przorski presented documentation that roughly 2.25 acres of his 3.47-acre parcel are within an environmental corridor that restricts development. Przorski told the board the corridor limits use and that much of the site is wooded and not buildable; he also identified deferred exterior maintenance and a partial, low, unfinished basement. Assessor Sam Monroe presented four residential comparables and the village's valuation approach (a market-modified cost method), and the board reviewed the property's land classification and usability. Monroe stated neighborhood undeveloped-acre rates used in the assessment model (the village's undeveloped land rate for the neighborhood was $49,140 per acre). Board members concluded that part of the parcel should be classed or valued as undevelopable/undeveloped and recalculated the land component accordingly. After arithmetic on acreage and neighborhood undeveloped rate, the board reduced the assessed land component and approved a new total assessed value of $768,600 (land revalued at $222,200; improvements remained at $546,400). The board recorded the change on the decision form and instructed the clerk to issue the revised assessment notice and to notify the owner of appeal rights.