What does a Township Assessor do?
Every four years the township assessor is charged with conducting a general assessment of all properties within their jurisdiction. In the general assessment year, the assessor appraises or estimates "fair cash value" (the amount for which a property can be sold in the due course of business and trade, not under duress, between a willing buyer and a willing seller) of all real estate as of January 1 of the general assessment year (most recently 2015). The property is then assessed at 33.33% of the "fair cash value", as determined by the Illinois Department of Revenue's sale ratio studies for the three most recent years preceding the general assessment year. (35 ILCS 200/ 1-50, 1-55) The property assessment value is used to determine each taxpayer’s overall share of the tax burden created by units of local government who are funded by the property tax.

In years other than the general assessment year, such as tax years 2016, 2017 and 2018, the township assessor is to list and assess all property which becomes taxable and which was not part of the general assessment. The assessment rolls for these years shall include all new or added buildings, structures or other improvements that were not included in the valuation of the property for the general assessment. The township assessor would also exclude the value of any buildings, structures or other improvements previously included in the general assessment that are no longer present whether or not they are removed by the property owner or destroyed or damaged by fire, flood, etc. In the instance where the improvements are damaged and not destroyed, the assessor shall determine how much the value of the property has been diminished and adjust the value accordingly.

Show All Answers

1. Who is the Township Assessor?
2. What are the requirements for the position of Township Assessor?
3. What does a Township Assessor do?
4. What kind of property is assessed?
5. How is real property assessed?
6. What else does the Township Assessor do?
7. Where do I go with questions on my assessment?