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Board re-caps taxable value for 408 Edsel after 2024 enhanced life estate deed
Summary
Kingsford's Board of Review voted to re-cap taxable value for 408 Edsel (parcel 052-224-012-00) for 2025 and to adjust the 2026 taxable value for inflation (2.7%) after a 2024 enhanced life estate ("ladybird") deed was recorded.
The Board of Review considered a re-capping of taxable value for the property at 408 Edsel (parcel 052-224-012-00). Staff reported that an enhanced life estate (commonly called a "ladybird" deed) was recorded in 2024; because the transfer was exempt, the property’s taxable value should have remained capped. The Board voted to re-cap the taxable value in 2025 and to adjust the 2026 taxable value for inflation at a rate of 2.7%. The motion was made by Michael Flaminio and seconded by Angela Olson and carried unanimously.
The minutes do not record the exact dollar amounts affected by the re-cap or the method used to compute the adjustment beyond the stated 2.7% inflation factor. City staff present included City Manager Michael Stelmaszek and City Assessor Kyle Mulka.
