The Union County Board of Equalization and Review met to hear taxpayer appeals of 2025 property assessments and voted after deliberation to keep most county valuations in place while reducing the assessed value of one apartment complex.

Taxpayer representatives and county appraisal staff presented evidence on the cost, income and sales-comparison approaches across six hearings. County staff repeatedly said they relied on Marshall & Swift cost estimates, market sales and a set of capitalization rates drawn from market sources. Appellants said their analyses, often using actual 2024 income statements or alternative cap rates, supported substantially lower values in several cases.

The matter that drew the most scrutiny was a 341,610-square-foot FedEx distribution facility (property key 09180004H). Appellant representative Chris Toth of Ryan LLC told the board the tenant (FedEx) is responsible for the real estate tax burden and presented multiple approaches that implied values between roughly $34 million and $45 million, well below the county's $51,010,900 appraisal. Toth said the purchase price ($60,000,000 in 2023) implies an unusually low capitalization rate (about 4.77%), which he described as an outlier. Union County appraiser Hunter said county staff had found an error in the CoreLogic-derived building height used in the appellant's cost model (the county measured the clear height at roughly 35 feet, not 24), and when corrected that difference materially increases the county's cost estimate. After questioning and rebuttal, the board voted to leave the county's value unchanged at $51,010,900.

In other commercial hearings, the board also affirmed the county's value for a medical/office property at 1995 Monroe (property key 09298365), where the appellant relied on a cost approach and the county relied on regional sales and prior transactions.

Several multifamily appeals produced the sharpest disagreements. At Willow Glen Apartments (property key 09195022A), the appellant submitted year-end 2024 financials and an income approach that implied about $9.3 million. County staff said the submitted income statements contained duplicated or nonallowable expense lines and that, when the county adjusted for those items and applied its cap-rate series, the property's value aligned with the county's higher conclusion. The board ultimately voted to reduce Willow Glen's assessment to $16,254,000, after weighing both sets of income figures and cap-rate assumptions.

At the Chase property (property key 09264027) and Ardmore at the Trail (property key 07105035B), debate centered on cap rates and which sales were truly comparable. Appellants and county staff used different cap rates (for example, the county used cap rates from TRIP/CoStar that were higher in some older vintage properties and lower for newer properties); the board applied those arguments and evidence during deliberations. The Chase matter was set at $35,531,100 after adjustments; the Ardmore at the Trail assessment remained at the county's $63,808,600.

Votes at a glance

- 09180004H (FedEx distribution center / MI Charlotte Owner LP): county assessment $51,010,900 — board vote: assessment unchanged (motion carried).
- 09298365 (1995 Monroe St, 1995 Monroe Stolle LLC): county assessment $8,144,600 — board vote: assessment unchanged (motion carried).
- 09195022A (Willow Glen Apartments, Willow Glen Rockford LLC): county assessment $17,100,000 — board vote: reduced to $16,254,000 (motion carried).
- 09264027 (Chase Apartments, Chase Rockford LLC): county income analysis adjusted to $35,531,100 — board vote: set to $35,531,100 (motion carried after discussion).
- 07105035B (Ardmore at the Trail, Shannon Enterprises at Indian Trail LLC): county assessment $63,808,600 — board vote: assessment unchanged (motion carried).
- Addendum A (settled accounts): board approved staff recommendations.

Why it matters

Property owners can appeal county real property valuations to the Board of Equalization and Review; by statute, the burden of proof is on the taxpayer and evidence must reflect market conditions as of Jan. 1, 2025. The board's decisions determine the tax base used to calculate property tax bills and can affect the tax obligations of tenants where leases pass taxes through to occupants, as was the case with the FedEx tenant testimony.

What the board emphasized

Board members repeatedly pressed both sides for clarity on inputs: which cap rate series and time period to use, whether actual in-place rents or market rents should control, and whether particular sales or expense lines were comparable and allowable. Several board members said they preferred using county-verified metrics when the appellant's supporting documents included duplicated or unverifiable entries.

Next steps

County staff said taxpayers will be notified in writing of the board's decisions, typically within about 30 days; taxpayers retain other appeal rights under state law if they choose to pursue them.

(Reporting notes: quotations and figures in this story are drawn verbatim from hearing transcripts and the materials presented to the Board of Equalization and Review. The board's motion and vote language was publicly stated on the record.)