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Mazon, IL | . . . for Illinois farmland property tax assessment meetings. Is anyone else unfortunate enough to be on their county farmland assessment board?
The attached picture is the assessments that will be used for next year’s taxes. As a board member we are expected to rubber stamp these numbers provided to us. While I understand the questions I’m raising won’t affect the final assessment, I’m trying to get a better understanding of how these numbers were derived and do they represent actuality.
Keep in mind the state goal is to get the certified value (your value for property taxes) equal to the equalized assessed value.
How do these changes, generally, relate to your experience?
1. Was your gross income up 7.5% over the prior year?
2. Did you see an increase of 8.7% in non-land production cost?
3. Did you see or are aware of land loan interest rates going down?
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 IMG_9401 (full).jpeg (152KB - 52 downloads)
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It’s that time of year again . . .
