A message from the Belvidere Township Assessor, Tamara Torrance…..
The 2015 Board of Review came to a close with less than expected appeals submitted by tax payers. With the help of my staff we assessed approximately 11,187 parcels in 2015. The greatest portion of those parcels are Residential at 88%. The other parcels are made up of Commercial, Industrial and Farm properties. Mike St. Angel, Commercial and Industrial Deputy Assessor for Belvidere Township adjusted values on 198 Industrial and 553 Commercial properties. We also revalued 556 Farm properties assessing the home and any out buildings located on the parcel. The value of farm land is determined by soil type, and is calculated using the Soil Productivity Index by the IDOR. The Farm land values increased in 2015 because of adjustments to the index made at the State level.
The total assessed value for Belvidere Township as certified to the Boone County Board of Review was $522,819,260. The final Board of Review assessed value was $520,998,759. The dollar amount of reduction was $1,820,501.
After the Board of Review‘s adjustments the overall value was reduced less than 1.00%.
Belvidere Township’s level of assessment going into 2015 was 33.08%. This is the 3 year average calculated using 2012, 2013, 2014 levels. We adjusted the level to 33.24%, closer to the State mandated level of 33.33%. We will receive the IDOR 2015 Sales Ratio within the next couple of weeks. The study will reveal our level of assessments for 2016, thus indicating the amount of adjustment needed to reach the 33.33% level we strive to achieve.
My task as your assessor is to have the knowledge to recognize the areas where the adjustments need to be made. I am familiar with the market in Belvidere Township because I examine each transaction that takes place in this jurisdiction. I compile the statistical studies needed to place a fair and accurate assessment on your property.
This year we have been asked by our Chief County Assessment Officer, Patricia Elder, to turn in our assessment values one month earlier than in past years. It is a challenge we are focused on as we intend to meet all of our deadlines. We are busier than ever in our office, while facing new challenges, we continue to improve our best practices, insuring a fair and equitable assessment for all Belvidere Township residents.