Assessment Explanation

Assessment Explanation 2016

Important Dates:

August 3, 2016 - Date of Notice
August 3, 2016 – Revised Assessments published in Herald News (815.526.4428)
September 6, 2016 – Deadline to appeal
 

Notice of Revised Assessment:

This is notifying you of the new figures that will be used to calculate your tax bill in April 2017. Please note: Not every taxpayer will receive a notice each year.  Properties that were changed at the local township level will be published and generate a notice to be sent to the taxpayer of record.  Notices are not sent on properties that were changed by the multiplier alone.

Township multiplier: 1.0675

Every year the Department of Revenue conducts a sales ratio study comparing three years of sales to assessments. The Will County S/A uses this study to determine what factor is needed to bring a township’s assessment level to 33 1/3%. The 2016 multiplier of 1.0675 was calculated from 2013, 2014, and 2015 sales. That means no change was applied by the county to residential assessments.

How do I know if I'm being fairly assessed?

Compare your assessment to similar properties in your neighborhood. Homes that are similar in style, size, age, location, and amenities, should have like assessments. Additionally, research recent sales in your neighborhood. Typically, comparable homes sell for similar amounts. Your assessment should reflect the market of your subdivision over the last three years. The “Property and Assessment Search” on this website can aid you with these tasks or we’d be happy to discuss the situation with you over the phone or in person.

How do I appeal my assessment?

If you feel that you are over-assessed, please call our office to discuss your concerns. Many issues can be resolved without filing a formal appeal. If we are unable to adjust your assessment, you may appeal to the Will County Board of Review. An attorney is NOT required for residential homeowners (see Board of Review Rule #9). As a homeowner you have the right to represent yourself, free of charge. Appeal forms can be obtained either at our office or online at http://www.willcountysoa.com. As always, we are happy to assist homeowners with the process.

Special Notice: If you have received a letter from a Real Estate Consultant or Tax Appeal Representative (in regards to appealing your assessment), please contact our office prior to spending money on those services.  Many of those letters contain misleading or inaccurate information about your assessment and the appeal process.  In most cases, a third party is not necessary to resolve an issue with your assessed value.

Informational Brochure Updated 2016.pdf, Winner of the Township Officials of Illinois 2012 Mighty Message Contest.