From The Assessor

The property tax bills will be arriving in your mailbox by next week. As was the case last year, many of you will see an increase in the amount you owe for your tax bill. I understand there will be unhappiness, exasperation, and confusion-why is my tax bill continuing to increase, as my assessment goes down. Please click here to see how you can make a difference.

ASSESSMENTS DOWN- WILL TAX BILL INCREASE?

What about my tax bill, when will it go down?"  That is a frequently asked question and the answer in all likelihood it will not.  Assessments are going down because of the decline in the real estate market.  Generally tax bills are going up as a result of increased spending by taxing bodies such as schools, villages and park districts.  If government spending doesn't go down, taxes won't go down either.  Property taxes exist to fund local government spending. If government's spending and the "levy" requests do not decrease, most of us will not see relief.  In fact, Illinois law allows for increases in spending at the rate of the Annual Consumer Price Index (CPI) or 5%, whichever is less.  For the tax bill you will receive in May 2012, the CPI increase is 1.5%.  This means spending and "levying" can increase, so tax bills could rise by 1.5%, even though your assessment was decreased.

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