Lower value, rising cost
Homeowners turn to reassessments, but they don't always help
When Henry Mueller moved to Spring Grove in 2004, he bought a new, two-bedroom ranch home for $217,000.
That year, Mueller paid “about $4,100” in property taxes, he said.
Seven years, a recession, and a housing crash later, a 2010 McHenry County property tax assessment put the fair cash value of Mueller’s home at about $230,000 – an equalized assessed value of about $77,400.
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