Jeri J. Barr Assessor
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
You can not appeal your TAXES - only your ASSESSMENT
When you receive your tax bill in May, 2015, your 1st installment is payable by June 3rd.
Check the lower left hand section of your bill. Under Taxing Body, you will see the amount of your property tax paid to each taxing body and the change from the prior year is the increase (or decrease) in the amount payable to the taxing body listed. This is to show you where your money goes.
Typically we hear from many homeowners during the month of May who are unhappy with their property tax bill. My suggestion has been and still is to contact the taxing body with comments/questions so that they are aware of your concerns when they are working on their levy for the next year.
From 2010 through 2014 most tax rates have gone up approximately 50%.
The largest increase in tax rate was in unincorporated McHenry where the tax rate has increased by 60% over four years.
Tax rates are based on services and schools in your area. The tax rates throughout the township range from 10.49 (unincorporated Spring Grove is lowest) to 17.42 in a small section of Round Lake that is in the Grayslake school district.
ANOTHER TAX INCREASE?
WE DO NOT DETERMINE OR CONTROL THE AMOUNT OF PROPERTY TAXES YOU MUST PAY.
Taxes are the result of spending, not assessments, and if spending doesn't go down, taxes won't go down either.
Property taxes exist because of local government spending. Taxing bodies schools, villages, townships, county, police & fire districts, libraries, park districts, ect. depend on property tax revenues to provided local services. Each year they submit a request for property tax funds, known as the "levy". The combined "levies" actually create the tax burden, while assessments simply divide up that tax burden in an equitable way. So if government spending and the "levy" requests do not decrease, most of us will see no relief in our tax bills. In fact, if levies go up because of increased spending, tax bills can actually go up, even when assessments go down.
To understand why, we have to look at the basic tax rate formula:
LEVY divided by ASSESSED VALUE = TAX RATE
The LEVY is the amount of tax dollars that your taxing bodies request.
The ASSESSED VALUE is the total of the assessments in the taxing district.
The TAX RATE is nothing more than the calculation; the result of dividing the LEVY by the ASSESSED VALUE
Taxes go up because Levies go up. Assessed values and tax rates are just the tools used to divide up the total tax burden created by the combined levies of our local taxing bodies.
Here's how it works - Our taxing body requests & $100,000 (the Levy), and total assessments are 2,000,000.
The tax rate now is .0500 ($100,000 divided by 2,000,000)
If your assessment is 100,000 then your taxes will be 10,000 X .05 or $500.
"If property values go down, won't my taxes go down?" Let's see...
Our Taxing body is still requesting $100,000 (the Levy) but total assessments are 1,800,000, down 10%.
The tax rate now becomes .0556 ($100,000 divided by 1,800,000)
If your assessment is 9,000 (down 10%), then your taxes will be 9,000 X .0556, still $500.
Taxes didn't change - even though assessments went down - because the LEVY didn't change. The Levy drives the tax bill.
What if the levy increases but my assessment goes down?
The LEVY is $110,000, 10% more, and assessments are 1,800,000, down 10%.
The tax rate is .0611 ($110,000 divided by 1,800,000)
If your assessment is 9,000 (down 10%), then your tax bill will be 9,000 X .0611 = $550
Up 10% like the levy, not down 10% like your assessment. The Levy drives the tax bill.
Generally, taxes do not go up because of increasing assessments and they will not go down with declining assessments. On an individual basis, if one assessment goes down substantially more than others, that one property owner may see more relief in their taxes, the tax burden has been redistributed. And if one assessment doesn't change when most go down, that tax bill may increase - the tax burden has been redistributed. But, if assessments all decrease by a similar amount, there will be absolutely no change in your tax bill unless the levy changes.
Levies go up because local government spending goes up and taxes go up because Levies go up - even when assessments go down. Assessments and tax rates do not change the tax burden, they only distribute the tax burden that is created by the levies.
The only way to control taxes is to control local government spending.
The links below show the taxing bodies and tax rates which affect your tax bill.
Sample of tax bills for a property valued at $200,000
Assessment Appeal Process
Property owners have an annual opportunity to appeal their assessments to
the Lake County Board of Review. Property owners who question their
assessments are encouraged to contact our office with evidence to support
their contention prior to filling an appeal with the county to see if it can
be resolved without a hearing.
You do not have to retain the services of a tax rep to protest your value. You can do this free of charge by following these guide lines:
During the appeal process you may:
1) Drop off your evidence for review at our office 8:00 am to 4:30 pm Monday thru Friday.
2) E-mail your evidence to our office. firstname.lastname@example.org
3) Set-up an appointment to meet with the assessor or staff member for information or assistance with the appeal process. We will make every effort to accommodate all property owners who may not be able to come to our office during normal office hours.
4) File your appeal with the county.
2015 Assessment notices will be mailed sometime in August
2015 Assessment notices will be mailed sometime in August
Online Appeal Filing
DURING THE APPEAL PERIOD, YOU MAY SUBMIT EVIDENCE THAT YOUR ASSESSMENT IS INCORRECT.
From the Assessor...
Please call or visit our office for assistance with filing for EXEMPTIONS:
Senior Assessment Freeze
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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