Challenging times

Add comment August 20th, 2009

The declining real estate market had people up in arms over tax assessments in 2008. Take a look at these numbers.

Assessment challenges in Winnebago County

2000: 755

2001: 1,396

2002: 1,376

2003: 1,823 (general assessment year)

2004: 1,057

2005: 1,055

2006: 905

2007: 1,996 (general assessment year)

2008: 2,716

The numbers are just as stark in Boone County.

2000: 17

2001: 58

2002: 53

2003: 134 (general assessment year)

2004: 61

2005: 70

2006: 205

2007: 201 (general assessment year)

2008: 559

Of course, the market has declined much more in 2009 so officials are expecting even more challenges this year. If you are considering challenging your assessment, remember that your house’s value is being based on what it was worth on Jan. 1, 2009, so you need to consider the housing markets of 2006, 2007 and 2008 and not what’s happening in 2009.