Understanding and Appealing Your Property Tax Bill Presented by: John Trowbridge Assessor Lisle Township Jean Kelly Assessor DuPage Township Gregory A. Boltz Assessor DG Township Hosted By:
Basic Assessment Terminology
Market Value The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.
Assessed Value The value placed on property for tax purposes and the basis for determining what portion of the overall tax burden each property owner will bear. In Illinois (excluding Cook County) assessments are set at 1/3 of Market Value.
Equalized Assessed Value (EAV) EAV is the result of the application of factors (multipliers) from the Supervisor of Assessments and the State of Illinois to the assessment originated from the Assessor. 2017 2017 2017 2017 Assessor Supervisor of Assessments State of Illinois EAV Tentative Factor * Factor 105,940 X 1.0478 x 1.00 = 111,000 * For Downers Grove Township
Tax Formula 2017 Market Value $317,852 2017 Assessed Value 105,940 (317,852 x.3333) 2017 S of A Factor 1.0478 2017 State Factor 1.0000 2017Assessed Value 111,000 (105,940 x 1.0478 x 1.0000) Res Ex. -6,000 Sr. Ex. -5,000 2017 Net Billable EAV 100,000 (111,000 (6,000 + 5,000)
Taxing Body 9448 Millage Rate Net Billable EAV Tax DuPage County.1848 100,000 $ 184.80 Forest Preserve District.1514 100,000 $ 151.40 DuPage Airport.0176 100,000 $ 17.60 Downers Grove Twp.0350 100,000 $ 35.00 Downers Grove Twp Rd.0524 100,000 $ 52.40 Village DG EX Fire.4343 100,000 $ 434.30 Village DG Fire.1253 100,000 $ 125.30 Village DG Library.2202 100,000 $ 220.20 Downrs Gr Spec Ser 2 1.5000 100,000 $1,500.00 Downers Gr Park.3425 100,000 $ 342.50 Downers Gr San Dist.0413 100,000 $ 41.30 Grade School 58 2.0984 100,000 $2,098.40 High School Dist. 99 1.9648 100,000 $1,964.80 College of DuPage.2626 100,000 $ 262.60 TOTAL 7.4306 100,000 $7,430.60
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Exemptions A preferential redistribution of tax liability established by the legislature by creating exemptions for individual groups with distinct circumstances. Exemptions can be partial or complete. The redistributed tax liability is picked up by the balance of the taxpayers not afforded some or all of the exemption(s). Available Exemptions! Residential Homestead! Homestead Improvement! Senior Homestead! Disabled Persons Homestead! Veterans Exemption! Returning Veterans Exemption! Senior Assessment Freeze
Residential Homestead Illinois statutes provide for an exemption of up to 6,000 in equalized assessed value on homes occupied by the person legally responsible for the payment of real estate taxes. This exemption is automatically applied.
Homestead Improvement Granted to owner-occupied property where an assessed improvement or addition has been constructed. It deducts the assessment attributable to the new improvement, up to 25,000, from the total assessment ($75,000 actual value). This four year exemption is automatic, an application is not required.
Senior Homestead To qualify you must be 65 by December 31st of the assessment year for which the application is made, own and occupy the property, and be liable for the payment of real estate taxes on the property. The exemption reduces the equalized assessed value by 5,000. Proof of age and ownership is required with the application. An application is available at the Assessor s Office, the Supervisor of Assessments Office, or on line at: www.dupageco.org/soa/1475/ - DuPage County www.willcountysoa.com/exemptions.aspx - Will County
Senior Assessment Freeze This is an additional exemption provided to senior citizens eligible for the Homestead Exemption, with one additional requirement: the total annual GROSS HOUSEHOLD income cannot exceed $55,000 ($65,000 effective 2018 payable 2019). For application, questions, or additional information concerning the exemption, please call the Assessor s Office or the Supervisor of Assessment Office at: (630) 407-5858 DuPage County (815) 740-4648 Will County
Types of Appeals Comparable Sales Market Value Uniformity Contention of Law
Comparable Sales (1 of 3)! Most common in a down turning market.! Burden of proof: preponderance of evidence.! Evidence may include: o Sale of the subject. o An appraisal of the subject. o An assembly of comparable sales.
Comparable Sales (2 of 3) o If submitting comparable properties it is recommended to include a property record card for every comparable sale you use. It is also recommended to complete all data on the grid. The more complete the data on the grid sheet typically results in a higher probability of a successful appeal. o The comparable sales should be similar in location, design, size, age and amenities.
Comparable Sales (3 of 3) Please note: An appraisal for purchasing or re-financing is developed for a different purpose than for developing an assessment. As a result, the value conclusion may not necessarily result in an accurate assessment indication. Additionally, any appraiser would be in violation of USPAP if they testify to any value conclusion outside the purpose of the appraisal for which it was developed.
Uniformity (1 of 2)! Requires a knowledge of the neighborhood.! Compares your property to other similar properties in similar areas.! Burden of proof: Clear and convincing.! The comparable properties should be similar in location, design, size, age and amenities.
Uniformity (2 of 2) If submitting uniformity properties it is recommended to include a property record card for every property you use. It is also recommended to complete all the data on the grid. The more complete the data is on the grid sheet typically results in a higher probability of a successful appeal.
Contention of Law Rarely used for residential improved properties. Typically adjudicated by counsel. Legal briefs must accompany the appeal.
Appeal Process Call your Assessor s Office File at the Board of Review File at the Property Tax Appeal Board
Call Your Assessor s Office! (1 of 2)! Many times an issue can be resolved without going through the appeal process.! The Assessor cannot address your specific issue unless you tell them about it.! Please afford the Assessor the opportunity to review and resolve your issue without the time consuming process of appealing.! Please understand that NOT all complaints can be resolved at the Assessor s office. However, contacting your Assessor s office may save you time and additional effort.
Call Your Assessor s Office! (2 of 2) Have you recently purchased a home? You may be able to avoid the process of appealing your assessment by submitting the following information to the Assessor s office for review:! A copy of your executed Real Estate Contract;! A copy of your Final Closing Disclosure or Settlement Statement.
File at the Board of Review You have up to 30 days after publication of the assessments to file an appeal with the Board of Review. The Board of Review website is: www.dupageco.org/soa/1475/ www.willcountysoa.com/board-of-review/assessments-appeals-process.aspx The 2017 deadline Will County Board of Review appeal was September 5th, 2017. The appeal options are the same as previously mentioned:! Comparable Sales Market Value! Uniformity! Contention of Law
Board of Review Appeal Grid
File at the Property Tax Appeal Board You have up to 30 days after the Board of Review publishes its final decisions to file at the Property Tax Appeal Board. Their website for forms is: http://www.ptab.illinois.gov/filing.html#tabs-2 The appeal options are the same as the Board of Review:! Comparable Sales Market Value! Uniformity! Contention of Law
PTAB Appeal Grid
Q & A
We would like to thank you for joining us today! A special thank you to our State Representative David Olsen for organizing this Town Hall. Please don t hesitate to contact our office with questions. THANK YOU!!
Contact Information Downers Grove Township Assessor 4340 Prince Street, Downers Grove IL 60515 Phone: 630-719-6630 Fax: 630-719-6653 Email: assessor@dgtownship.com Website: www.dgtownship.com Hours: Monday Friday, 8:30 am 4:30 pm
Contact Information Lisle Township Assessor 4721 Indiana Avenue Lisle IL 60532 Phone: 630-968-1183 Fax: 630-968-1236 Email: Website: www.lisletownshipassessor.com Hours: Monday Friday, 8:30 am 4:30 pm
Contact Information DuPage Township Assessor 241 Canterbury Lane Bolingbrook, IL 60440 Phone: 630-759-1315 Email: Information@DuPageTownshipAssessor.com Website: www.dupagetownshipassessor.com Hours: Monday Friday, 9:00 am 4:00 pm