The Twin Lakes Village Board voted to not do a comprehensive property revaluation this year.
The chief reason to not do the revaluation is studies performed by the assessing consortium to which the village belongs have shown assessed value in the village to be within 98 percent of equalized value based on recent actual sales, said David Cox, village administrator.
The village had been doing revaluations every other year in even years. But the village has not done a revaluation since 2006, Cox said.
Assessed values are used to determine how much a property owner pays in property tax.
Resident Linda Smith questioned the circumstances.
“When it’s (values) going up, it (revaluation) gets jammed down everyone’s throat. We have to do it,” Smith said.
The motion to not do a re-valuation passed unanimously.
