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1. What is an assessment?

An assessment involves identifying the real property within a jurisdiction, listing it, appraising it and placing a value for it on the tax rolls. This value is known as the assessment and is the basis for determining what portion of the total tax burden each property owner will bear.

In Illinois, the statutory assessment level is normally one-third of the market value of a property with several exceptions including:
(1) Farmland
(2) approved forestry management plan
(3) common areas
(4) certain subdivision land
(5) approved dedicated nature preserve, conservation stewardship, right of public benefit
(6) alternate valuation for solar heating or cooling

2. Who assesses property?

Most property is locally assessed, meaning valued by an assessment professional in our County.
In Lake County, township assessors have primary valuation responsibility. In Lake County, 17 of our 18 assessors are full time. Assessors must qualify to hold office on the basis of certain course work in assessment techniques.

A few types of property are assessed by the State, such as railroad operating property and pollution control facilities which have been certified as such by the Illinois Environmental Protection Agency. The value of state-assessed property is a small percentage of the value of all taxable property. State-assessed properties are valued by the Department of Revenue, and assessments are certified to appropriate County Clerks for inclusion in local tax bases.

3. Who oversees that the assessment work is completed each year?

The completion of the assessment process by assessors is subject to supervision and, if necessary, revision by the Chief County Assessment Office. The Chief County Assessment Officers are usually appointed by County Boards and must have relevant experiences, pass a qualifying examination given by the Department of Revenue and possess a professional appraisal designation.

4. When are initial assessments complete?

In Lake County, township assessors complete their assessments in late summer through the fall.

After they have certified their assessment books as being correct, they turn them in to the Chief County Assessment Office, which equalizes assessments to 33.33% of market value through the use of an equalization factor.

Assessment books are then given to the County Board of Review for further review in the assessment appeal process.

5. Are taxpayers notified about the assessments on their property?

In General Assessment years, lists of all property assessments must be printed in a public newspaper published in the county, and all taxpayers are sent an assessment notice. In the years between the General Assessment years, a list of real estate assessments which have been changed is published.

Taxpayers in counties other than Cook must also be mailed assessment notices (“blue cards”) if their real property assessments have been changed from the preceding year’s assessments unless the change was caused only by the application of an equalization factor by the Chief County Assessment Office.

As a courtesy, Lake County taxpayers are sent notice of their assessments every year, regardless of whether a change has occurred. The notices may go to mortgage holders if arrangements have been made for tax bills to go directly to them, but the law requires mortgage holders to mail copies of notices to taxpayers. Taxpayers have the right at any time to inspect property record cards and other assessment records for any property, subject to reasonable rules and regulations established by local officials.

6. What property is exempt from property tax?

The Illinois Constitution allows an exemption from real estate taxes for property of the State, units of local government and school districts, property used exclusively for agricultural and horticultural societies, and for school, religious, cemetery, and charitable purposes, as long as the property is not leased or otherwise used with a view to profit. Exemption of most property of the Federal government is required by Federal law.

Property owners must apply for these exemptions to their County Board of Review. After hearings are held on these matters, recommendations are made by the Board of Review and forwarded to the Department of Revenue, with each full record, for final disposition. Once property is approved for exemption, the owner, agent or attorney must annually file a Certificate of Status of Exempt Property with the Board of Review to retain that exemption.

7. What property tax relief is available?

Read about the tax relief opportunities on the Property Tax Relief page.

8. What problems are generated by inequality in assessments for taxpayers?

Variation in assessment levels can create problems for taxpayers. Most obvious is the unfair distribution of the tax burden among taxpayers within the same taxing jurisdiction.

If, for example, two adjacent houses with identical market values of $60,000 were assessed at different levels of their full value, say 10 % and 30%, one house would have an assessed value of $6,000 and the other of $18.000. Under a tax rate of 8% ($8 per $100 of assessed valuation) the first homeowner would have a tax bill of $480, while the second would pay $1440, even though their houses have the same market value. Assessors should prevent this type of inequality by assessing at a uniform level within a jurisdiction.

However, even if uniformity exists within a given jurisdiction, inequities can arise because of differences in assessment levels among different assessing jurisdictions. If, for example, one township in a county was assessed at an average level of 20% of full value and another 40% and both townships were in the same school district, property owners in the township assessed at the higher level would, on average, be paying twice as much in school taxes as property owners in the other township.

Uniformity in average assessment levels among assessing jurisdictions (i.e., among township, or multi-townships) prevents this type of inequality. In addition, uniformity among County average assessment levels is important because distribution formulas for State grants-in-aid for education, highways, and public assistance include the assessed valuation as a component. Uniform assessment levels also ensure an equal basis for applying tax rates and bonded indebtedness limitations to units of local government.