Kendall property values lower for fifth straight year
By Steve Lord email@example.com February 19, 2014 11:56AM
Updated: February 24, 2014 12:24PM
YORKVILLE — For the fifth straight year, Kendall County’s total assessed value will go down.
Andy Nicolletti, supervisor of assessments, said this week assessed value will be down 1 percent from the about $2.75 billion of assessed value in 2013.
It’s the fifth straight year that assessed value has decreased in the county, although it is much less than the roughly 4 percent to 5 percent reduction that has been going on yearly since 2010.
“Hopefully, after that it will start up,” Nicolletti said.
The supervisor of assessments said the 1 percent is what he came up with for 2014, based on the sales ratio study he has done. Assessors in the individual townships will shoot for that as they do their work throughout the year.
He has not yet done all the figuring, so he does not have the 2014 assessed value figure. He said with new construction, the figure might not be as low as 1 percent.
While the assessed value is down again, Nicolletti said there might be an uptick in real estate figures.
“Houses are selling for more than what they’re assessed,” he said.