Found something new about the real estate assessment process.
The McHenry County Supervisor of Assessments calculates margins of error and median average assessment levels for each township each year.
They are recorded on an Illinois Department of Revenue form numbered PTAX205.
Today, we’ll start sharing that information with readers, starting with Algonquin Township.
Retiring Algonquin Township Assessor Bob Kunz assessed real estate under his jurisdiction at a three- year average of 31.25%.
Since property is supposed to be assessed at a three-year average of 33.3%, I guess homes like ours will have a township multiplier applied by the County.
The more important measurement is the margin of error.
The Ph.D’s in economics and statistics who couldn’t find jobs in the 1930’s anywhere but in state government probably coined the term “Coefficient of Dispersion.”
That’s a term no ordinary human being can decipher, of course, so I call it a “margin of error.”
The Supervisor of Assessments Office calculated Kunz’ margin of error to be 13.47%.