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Based on the facts and exhibits presented, the Property Tax
Appeal Board hereby finds no change in the assessment of the
property as established by the Boone County Board of Review is
warranted. The correct assessed valuation of the property is:
LAND: $ 26,742
IMPR.: $ 53,743
TOTAL: $ 80,485
Subject only to the State multiplier as applicable.
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PROPERTY TAX APPEAL BOARD'S DECISION
APPELLANT: Bill and Cindy Hathaway
DOCKET NO.: 05-01647.001-R-1
PARCEL NO.: 07-20-100-008
The parties of record before the Property Tax Appeal Board are Bill and Cindy Hathaway, the appellants, and the Boone County Board of Review.
The subject property consists of a two-story style frame dwelling situated on a 5 acre site. The subject was built in 1910 and contains 2,430 square feet of living area. Features of the home include central air-conditioning, a partial unfinished basement, a detached 560 square foot garage and a 1,080 square foot metal pole building.
Cindy Hathaway appeared on behalf of the appellants before the Property Tax Appeal Board claiming unequal treatment in the assessment process as the basis of the appeal. In support of this argument, the appellants submitted six comparable properties located in close proximity to the subject. The comparables are situated on sites ranging from 3.0 to 5.49 acres. The comparables consist of frame or masonry dwellings that were built from 1853 to 2005 and range in size from 1,674 to 2,858 square feet of living area. Three of the comparables have a fireplace; four have central air-conditioning and five have a garage. One comparable has a slab foundation; three have a partial crawl space foundation; two have a full basement with one comparable having a finished basement. Three of the comparables have pole buildings ranging from 3,240 to 4,860 square feet of building area. The properties have improvement assessments ranging from $36,330 to $74,570 or from $17.84 to $38.62 per square foot of living area. The subject has an improvement assessment of $53,743 or $22.12 per square foot of living area. The comparables have land assessments ranging from $8,333 to $28,546 or from approximately $1,587 to $6,215 per acre. The subject has a land assessment of $26,742 or approximately $5,348 per acre. Three of the comparables have a farm classification.
The appellants further argued that two properties contain pole buildings that are valued less than the appellants' pole building, even though the appellants' pole building is smaller.