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Assessor: Township sales pickup, EAV to rise 8.25% for 2025
Summary
Chemung Township Assessor John Killeen told the board May 21 that sales activity has picked up, 15 new homes are under construction, and McHenry County’s equalization factor will raise the township’s EAV 8.25% for the 2025 assessment year.
At the May 21 meeting, Township Assessor John Killeen reported an uptick in real‑estate activity and changes to township assessment values for 2025. He said “new sales volume has picked up considerably this month, prices continue to hold steady or slowly rise,” and that some transactions had sold above asking price.
Killeen provided specific development details: 15 new homes are under construction in the township (including six duplexes), two foundations are underway and five new permits have been issued for homes not yet started. He also said a new office building at Alumi‑Tank in Bigfoot is progressing toward occupancy. On assessments, Killeen said the Chemung Township book was submitted to the McHenry County CCAO for the 2025 assessment year and that necessary adjustments were made to better reflect market equity.
Killeen told the board that McHenry County issued the annual equalize factor, which will raise Chemung Township’s equalized assessed value (EAV) 8.25% from 2024. He reminded residents that exemption forms for the 2025 Senior Freeze are available and that appeal season is expected to be published by mid‑June, triggering a 30‑day appeals window. He also said he is working with other township assessors and the CCAO to study farm assessments in preparation for the next quadrennial review.
No formal actions were taken on assessment policy at the meeting; Killeen said Board of Review (BOR) hearing dates are to be determined.
