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Assessors from Tyler Technology – the company tasked with evaluating properties – have completed their work in Edgewood and Sherbrook Farms, are about halfway through Fox Meadow and have begun working in Heathcote. Edgewood homeowners should begin receiving their data mailers this week.
Information collected includes square footage, building style, utility information, overall condition and other details about the property. Residents who find a discrepancy with the data can review the information, correct the inaccuracy and mail it back to Tyler Technologies. Corrections will be considered when property appraisals are completed in the next phase of the project.
In addition to the data shown on the property description reports, the appraisal process will factor in such variables as a pool, garage, sports courts, neighborhood and proximity to essential services such as schools. Property size and the size of homes will be the biggest determinants in dictating the assessed values, Eric Hardy of Tyler Technologies said at the beginning of the revaluation process.
Moving forward, Tyler Technologies will input the data into a computer-assisted mass appraisal system to estimate the property’s current market value. The new assessed value will go into effect in 2014.
There will be informal hearings meant to be a courtesy to the village and taxpayers who feel the new value is off. This will afford appraisers the opportunity to correct any mistakes that may have made during the project. If the appraisers see a trend amongst the input residents give, they will be able to make a correction to all similar properties.
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