The purpose of this course is to provide a comprehensive look at the importance of neighborhoods in mass appraisal. This course will provide insight on the development of neighborhoods in Illinois from a geographic and structural perspective. Topics include the stages of neighborhood development, the influence of Illinois property tax incentives on neighborhood stability, the economic principles that influence neighborhood development, and the major factors used in determining neighborhood boundaries for assessment purposes. This course includes a review of the statistics used in sale ratio studies and the equalization procedures used by assessing officials and the Illinois Department of Revenue.
Hours: 15 CE Hours