Tax Assessment on River Property Changes Dramatically (and lower) --- Why ?

BID, CDA, Shorewood Businesses, Sunrise, Taxes, TIF

According to property tax information available on the internet, the property at 3907-09 N Sherburn, which is one of the parcels for the Sunrise Development that the Village Board is planning on funding for $800,000 plus has changed dramatically for 2007.

The past assessments for the Sherburn property had a separate assessment for the land and a separate assessment for the improvements (buildings) which is the normal breakdown, and is the way that the property at 1111 E Capitol (Riverbrook Restaurant) is assessed.

Following are the assessments for the Sherburn property for the past few years, applying the applicable State Equalizers:

Sherburn                                      Land                           Improvements                    Total

2004                                           474,000                        1,627,240                         2,101,240

2005                                           507,900                         2,250,282                        2,758,182

2006                                           530,425                         2,350,081                        2,880,506

2007                                          2,282,447                       00000000                         2,282,447

                      This is a drop in the assessment of $598,059  which equals a 21% drop in value !!

                      (note: the 1111 E Capitol Dr property had a decrease in its assessment of about 4%)

  • Is this the only property in Shorewood that has dropped in value by 21% ?
  • Why is the assessment no longer broken down into its parts ?
  • What implications does this have for the proposed Sunrise Development ?
  •  Inquiring Minds Want to Know !!

                                     Do you Know ?            Do you have any Comments ?

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Page Tools


Latest Posts