Who determines how much I pay in property taxes?

Several agencies play a role in the levy, extension, and assessment of property taxes. Listed are the steps in tax determination:

  1. Individual taxing bodies (school districts, towns and villages, park and library districts, townships, community colleges, and counties) submit their funding needs (tax levy) to the County Clerk's tax extension office.
  2. Township assessors determine an approximate market value of your home and submit these to the County Supervisor of Assessments.
  3. The approximate market value of your home is multiplied by an equalization factor, currently 33.33% to determine the equalized assessed value (EAV).
  4. The funding needs of all taxing bodies that provide services to your property are totaled and divided by the total assessed value of your jurisdiction to determine the tax rate.

Your tax bill is figured by applying the tax rate to every $100 of EAV.

Show All Answers

1. How much of my property tax bill goes to the Village?
2. What do I get for my money?
3. Who determines how much I pay in property taxes?
4. Why do I pay my bill to the County when some of my money goes to the Village?
5. What are abatements?
6. What is a Special Service Area (SSA)?
7. Why is my water bill so high?
8. My water was shut-off, but I didn't receive a bill. Why?
9. I just moved to Carpentersville and need to set-up a water account. What do I need?