Reducing Tax Bill

By the time you receive your tax bill it is already too late to change it. There are three components that determine the size of your “slice” of the property tax “pie,” and each can be changed if you plan ahead and get involved.

First is the taxing district’s levy, which establishes the size of the pie. The governing boards of the various districts serving your property set budgets and levies. These are set at public meetings where you can speak. Check the websites of your local districts to see public meeting schedules.

Second is Illinois state law, which limits the size of that pie. Contact your state representative, state senator or the governor’s office to discuss changes to the statutory limits.

Third is the assessed value of your property, which determines how much of the pie is your responsibility. Each year assessments are mailed one township at a time, from late summer to late fall. Illinois state law provides a 30-day window after your assessment (the “blue sheet”) is mailed for you to appeal for a reduction. If the Board of Review reduces the assessed values of some properties, those not appealing may have a higher value and greater share of tax. Contact your township assessor for more information.