HOW IS YOUR PROPERTY APPRAISED?
Your Dundee Township Assessor has an important job,
and that is to decide the fair market value of every
piece of property within the township.
The Assessor needs a set of up-to-date assessment
maps showing size, shape, and location of each parcel
of land. The Assessor also needs up-to-date records
containing a description of the physical and location
characteristics of each property; records of sales
detailing the price, terms, and conditions of the
sale and records of the names and addresses of property
owners. The property transfer documents are the
primary sources of sales data which are crucial
to market value appraisals.
Building permits alert the assessor to changes in
property characteristics. The Assessor has an independent
program consisting of periodically inspecting all
properties and updating all records, but is mandated
by law to perform a revaluation at least every four
years, but can be done more often if necessary.
Reassessing every four years is called a quadrennial
The Assessor appraises each and every improvement
by square footage, the story height, age of property,
type of improvement, quality of materials used in
construction, and notes any extra improvements such
as garages, basements, fireplaces, etc.
The Assessor then interprets your property's market
value from all available sales data and property's
Next, by State Law, 33-1/3% of your property's market
value is calculated to arrive at your assessed value.