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Richard G. Martin, CIAO |
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22525 West Lockport Road, Plainfield, Illinois 60544 |
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Phone: (815) 436-5110 Fax: (815) 436-5117 |
How is my tax bill calculated?
Tax dollars are determined by multiply the assessed value of your property, less any exemptions, by the tax rate for your area. Assessed value is equal to 33 1/3% of market value. For example, if your property has a market value of $300,000 your taxes would be calculated as follows:
| Market Value ÷ 3 = Assessed Value |
Example: |
300,000 ÷ 3 = 100,000 | |
| Assessed Value – Exemptions = Taxable Assessed Value | 100,000 – 5,000 = 95,000 | ||
| Taxable Assessed Value x Tax Rate = Tax Dollar Amount | 95,000 x 0.071168 = $6,760.96 |
When are taxes due?
Real estate tax bills are mailed out by the Will County Treasurer's Office no later than May 1st. The first installment is due June 1st and the second installment is due September 1st.
What can be done if I feel my tax bill is unfair?
Once you have received your tax bill it is too late to appeal your assessment. Anytime the Assessor changes your assessment, the Will County Supervisor of Assessments sends notice of the change and publishes it in the newspaper. This typically occurs at the end of August. If you feel that your assessment is greater than one-third of your market value you have 30 days from publication to file an appeal with the Will County Board of Review.
If you are fairly assessed, but dislike the amount of taxes you are paying, plan to attend budget meetings of the taxing bodies in your district. Your tax bill will give you the current rate for each taxing district. If you have questions about the rate charged by a specific district, contact them directly.
If you have any further questions or concerns, please contact our office at (815) 436-5110.
