Rate Breakdown

Property taxes in Franklin County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

Authority	Avg. Rate
County General Fund	0.45%
School District (Avg)	1.20%
City / Local (Avg)	0.35%

How Property Tax Works in Franklin County

Property tax is a cornerstone of funding public services in Illinois and, specifically, Franklin County. Understanding the process can help you better understand your property taxes and budget accordingly. The assessment process starts with your property's appraised value determined by local assessors. This value is based on market data and is compared to similar properties within the county for a fair assessment. Once an appraised value is set, Franklin County sets millage rates that determine how much tax will be collected for each dollar of assessed value. The millage rate is essentially a percentage applied to your property's assessed value. This is then used to calculate your annual property taxes. The amount of millage varies from township to township within Franklin County based on local needs and priorities. To learn more about the specific millage rates for each area, you can consult with Franklin County's Board of Review or visit the county website.

Available Exemptions

Several exemptions exist in Illinois that help reduce property tax burdens. If you qualify, these exemptions could significantly impact your tax bill. Here are a few common exemptions:

• Homestead Exemption: This exemption for primary residences of qualified homeowners can be significant and often reduces your tax liability by 100%.
• Senior Citizen Exemption: For seniors aged 65 or older, this exemption reduces their property taxes to the fullest extent possible.
• Disability Exemption: This exemption is for disabled individuals with substantial needs and provides a significant reduction in taxes for eligible homeowners.
• Veteran Exemption: For veterans who have served honorably, this exemption can reduce property tax liability.

It's crucial to note that specific eligibility requirements and application processes may vary. It is always best to check with the Illinois Department of Revenue or Franklin County directly for up-to-date information.

Payment Schedule & Deadlines

To ensure you don’t miss a deadline, understand the payment schedule and consequences:

• Annual Payment Due Date: Property tax payments are usually due by December 31st, although this may vary depending on the specific municipality.
• Payment Options: Several methods for paying property taxes exist. These include online payment, mail-in checks, or in-person payments at the Franklin County Treasurer's office.
• Late Payment Consequences: Failure to make timely payments can lead to penalties and late fees.

For detailed information on specific deadlines and payment options, visit the Franklin County Treasurer’s website or call their office directly.

Appealing Your Assessment

If you believe your property's assessment is inaccurate or unreasonable, you have the right to appeal. The appeals process typically involves: 1. **Formal Filing:** Submit an official appeal form through the Franklin County Board of Review for your specific property. 2. **Supporting Evidence:** You can present evidence to support your claim such as comparable properties and market conditions, which will be reviewed by the board. 3. **Hearing and Decision:** A formal hearing is held where both parties can present their arguments. After considering all the evidence, the Board makes a final decision on the assessment. Remember that appealing assessments requires careful documentation and preparation. For comprehensive instructions, visit the Franklin County Assessor's website or contact their office directly for specific guidance.