City of Lake Forest recently issued the following announcement.
Per State Statute, General Assessment Years, also called Quadrennial Years, occur every four years. During those years, local township assessors must reassess every parcel in their township, regardless of age, location, size, or value of improvements.
Assessors look at individual properties during this time and determine the value of each property listed for taxation as of January 1 of that year. This is a very different process from most years where changes are often made at the neighborhood level.
Quad Years are times for the county to take an inventory of all taxable property and investigate each one thoroughly. And because every taxpayer receives an assessment notice during Quad Years, they are also times for Lake County residents to personally take stock of their properties and determine if their assessed values are accurate.
There are several ways taxpayers can ensure they are being assessed correctly. They include:
- taking a look at their property recored "blue card" on file in the local township assessor's office to be sure that all of the property characteristics listed on the card are correct.
- comparing their assessment to assessments of like properties in their area.
- talking with their township assessor about their concerns. Many times, a simple talk with the assessor can clear up any problems a taxpayer may have.
The most important thing to remember about Quad Years, however, is that they were established to ensure that assessments are fair and equitable countywide.
In addition to Lake County's mailing of the "blue cards" to residents in April and May, the City of Lake Forest provides notification on the website for all five of its townships.
For more complete information and FAQ, visit the County website.
Original source can be found here.
Source: City of Lake Forest
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