There are three main items that make up your assessment:
- value of your land (based on sales of similar sized parcels),
- depreciated cost of any buildings your property,
- market impact (location) of sales of similar properties.
The market impact is expressed as an Economic Condition Factor. This Factor is applied to the depreciated cost of (all) buildings on your property. The land value is combined with the value of your building to yield an Assessed Value that is entirely different from your Taxable Value.
As the March Board of Review has closed, the assessments of all property in Lyndon have been certified and we are now working on the 2012 valuations for the next year’s Board of Review. Most assessments change during the year and are usually finalized in February.
The deadline for the Principal Residence Exemption is May 1st. Please remember that to qualify for a Principal Residence Exemption you must own and occupy your home by May 1st to be eligible for the 18 mill exemption for that same year.
If you missed it because you moved in after May 1st, you will be eligible starting the next year. The Assessment Record Cards (detailed cards for each individual parcel in the Township) are available during normal business hours for inspection.
This is the information used to determine the assessment on all properties in our township
During this spring and summer, you may see me or my staff in the field taking measurements and digital pictures of our township.
If you have any questions about your assessment, please feel free to contact me.
I am in the Township office on Thursdays from 9:00am until noon.
My Lyndon Township office phone number is (734)475-2401
Lyndon Township Assessor