Assessor reports 70% assessment ratio; board receives annual roll with few appeals

At the Aug. 25, 2025 village board review meeting, an Accurate Assessment representative told trustees the villagewide assessment ratio is about 70% and presented the firm's annual assessment roll for the board's review. The assessment team said it completed fieldwork in July, visited 93 parcels and reviewed 161 permits and that only one resident scheduled an open-book appointment; 18 residents and one commercial owner contacted the assessor's office during the review period.

The report matters because assessment ratios and market updates determine how assessed values compare with market values and feed into tax calculations. Accurate Assessment said the village is due for a fuller market update next year and described how sales, permits and valid comparative data are used to set values.

Accurate Assessment's representative said, "Your current ratio is 70%." The assessor described the timing and notices used this year: fieldwork completed by July 3; initial real estate notices sent July 11; open-book availability beginning July 15; and mailing of changes on Aug. 7 (the day of the board review). The assessor said 138 sales were recorded in the review period and that 84 of those were usable as comparable sales for ratio analysis because some sales were not arm's-length or were incomplete market listings.

The assessor explained the two-step approach to using sales: first determine if a sale was a valid market transaction, then run ratio analysis across comparable sales to measure how assessed values align with market prices. The assessor noted that some sales reflect renovations or unique features (finished basements, interior upgrades, related-party transactions) that can make them less useful for measuring broad market value.

Trustees asked about the timeline for bringing the village to a 100% assessment ratio. The assessor said 100% is the usual statutory goal for a full revaluation but emphasized that timing depends on the chosen update approach and which years of sales are used; the assessor described next year's work as an "interim market update" that will be a busier year for outreach and appeals.

The assessor outlined how permit and field observations affect assessments: completed permanent work and new construction are routinely updated each year; interior inspections are performed as the contract and staffing allow; and documentation such as permits or appraisals can influence whether and how a parcel's record is adjusted. The assessor cautioned that bank appraisals can differ from assessor valuations because appraisals are often dated to the moment of sale rather than to the statutory valuation date and may use different comparables.

On procedure and appeals, the assessor reviewed open-book and hearing practice: property owners are encouraged to file an objection (appeal) so the assessor and board have a formal record to reopen the review window, the board receives guidance and a script for hearings, and the board may accept, deny or otherwise rule on requests consistent with the legal process. The assessor also noted administrative details: the assessor's office will send commercial requests for income-and-expense data in November to assist income-based valuations.

No taxpayer hearings were held at the Aug. 25 session and the record shows the board did not deliberate or decide any appeals during the meeting. The board acknowledged receipt of the annual assessment roll from Accurate Assessment and moved to adjourn after pausing the recording; the meeting record notes no official business occurred while the recording was paused.

The board and assessor discussed holding a public workshop or mock hearing next year to walk residents and board members through an example review and the hearing process in advance of a larger market update.

What the board did (official actions): the board acknowledged receipt of the assessment roll and approved routine minutes earlier in the meeting; no new assessment appeals were heard or decided at the Aug. 25 session.

(Reporting note: direct quotes and attributions are drawn from the meeting transcript. The article does not infer outcomes beyond the meeting record and reflects only what was stated and recorded at the Aug. 25, 2025 board review.)