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 ?