Jeri J. Barr Assessor

Phone: 847-546-8880
Fax: 847-546-8884

jbarr@lakecountyil.gov

WE'RE HERE TO HELP

The Grant Township Assessor is responsible for a fair and uniform system of property valuation that will equitably distribute the revenue requirements of our local governments among the township property owners

To all Grant Township Property Owners,

       Grant Township 2011 assessment notices, "Blue Card", will be mailed from the county the week of October 17th. Assessments will be published in the Lake County Journal      October 20th edition.

There will be a 30 day appeal period after notices are sent. Evidence supporting a contention of incorrect value must be submitted with the appeal. There is a comprehensive website, www.lakecountyil.gov/Assessor , where you can access information and compare any property in Grant Township to your own.

During the appeal period we will be accepting evidence at the Township office.

YOU DO NOT HAVE TO GO TO WAUKEGAN

YOU DO NOT HAVE TO PAY A "TAX REP"

APPOINTMENTS ARE RECOMMENDED DURING THIS TIME.

PLEASE CALL 847-546-8880

TO SCHEDULE AN APPOINTMENT & AVOID WAITING.

WE DO NOT DETERMINE OR CONTROL THE AMOUNT OF PROPERTY TAXES YOU MUST PAY.

Please read the article in the October 2010 Grant Township Newsletter on page 5 from the Assessor's Office; "When will my taxes go down?"

"County Equalization Factor"

What is that?

The 2010 County Equalization Factor for Lake County is 1.0199

1. It was applied by the Illinois Department of Revenue and it is calculated separated for each of the 102 counties in Illinois every year. From 1993 thru 2009, the County Equalization Factor has been 1.0000.

2. All valid sales in Lake County, as determined by the State, from THE PRIOR 3 YEARS (2007, 2008, & 2009) were used.

3. The assessment of each of these sales was divided by the sale price to calculate a ratio (level of assessments).

                  Assessed Value     =     Ratio

                      Sale Price

    

                  Examples:             46,400  =   29.94%               77,500  =  37.80%

                                               $155,000                                $205,00

4. All of the ratios were listed from low to high and the middle ratio in the list became the MEDIAN ratio. The MEDIAN ratio for Lake County for 2010 was 32.68%.

              Example:           A/S ratio tally                  Ratio

                                           

              (8,313 sales)      # 4,155                          32.56%

                                         # 4,156                          32.59%

                                         # 4,157 (MEDIAN)        32.68%

                                         # 4,158                          32.72%

                                         # 4,159                          32.75%

    

5. The statutory ratio (level of assessments) of 33.33% was divided by the median ratio (level of assessments) to determine the 2010 factor for Lake County.

                            33.33%  =  1.0199

                            32.68%

6. The Lake County Clerk's Office multiplied all the 2010 assessments in Lake County by 1.0199 to, conceivably, bring them from 32.68% of Fair Market Value (FMV) to 33.33% of FMV (as required by statute).

32.68% X 1.0199 = 33.33%

WHAT CAUSED THIS AFTER 17 YEARS with a FACTOR of 1.0000 (no change)?

Prior to 2010 Board of Review Action, the total EAV was 30,773,781,792 and the assessment level was 33.33%

After 2010 Board of Review Action, the total EAV was 30,161,056,404 causing the assessment level to drop to 32.68%

The LOSS in value at the Board of Review Level was 612,725,388 (loss of 1.99%)

Please call or visit our office for assistance with filing for EXEMPTIONS:

Homestead

Senior Homestead

Disabled Homestead

Home Improvement

Returning Veteran

Senior Assessment Freeze

Disabled Veteran

The assessor's office provides information for and represents the township during assessment appeals at the county and state level.

We also provide literature regarding the assessment and tax bill process.

We welcome all Grant Township property owners to visit the office with questions and we will be happy to share information regarding the process of determining your assessment.

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