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Assessor: sales volume down, 15 homes under construction and 8.25% equalization increase for Chemung Township
Summary
Township Assessor John Killeen reported lower first-quarter sales volume but steady prices, 15 homes under construction (including 7 duplexes), and that McHenry County's equalization factor will raise Chemung's entries by 8.25% for 2025.
Township Assessor John Killeen told trustees that "New Sales volume is trending lower for the first quarter, prices continue to hold steady," and summarized market activity and ongoing assessment work. He reported 15 new homes under construction — including seven duplexes — five new foundations, and three new farm buildings; an additional 18 completed structures will be added to the assessment roll for 2025.
Killeen said McHenry County has issued the annual equalization factor and "Chemung township's EAQ will be raised 8.25% from 2024." He also noted exemption forms for the 2025 Senior Freeze are available and that he will hold outreach at the Harvard Senior Center on March 24 (noted in the minutes as a meeting with "Angie" to promote the Senior Freeze). The assessor said the office is applying the new equalizer across properties and working with county assessors on farm assessment studies; he also referenced a letter from the County Assessors Association to McHenry County legislators opposing proposed consolidation bills.
