Rate Breakdown

Property taxes in Mclean 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 McLean County

Property tax is a crucial funding source for local governments in Illinois, supporting schools, libraries, public safety, and other vital services. The process involves determining your property's value through an assessment by the McLean County Appraiser's office, and then using millage rates to calculate the final tax burden.

**Assessment Process:**

• Appraisal: The McLean County Appraiser determines a property's value based on comparable properties (recent sales data), location factors, and other relevant elements.
• Reassessment: If your property has experienced significant changes (reconstruction, additions, etc.), the assessment may be re-evaluated. This occurs periodically according to Illinois law.

**Millage Rates:**

• Combined Rate: A millage rate is a specific percentage of your property's assessed value used to calculate the tax burden. The combined rate in McLean County can vary for different taxing districts, such as school districts, county government, and special districts (water district, etc.).
• Tax Rate Calculation: The exact millage rate is determined based on the tax levy each taxing body sets for the fiscal year. Your total property tax burden is calculated by multiplying your assessed value by the relevant tax rates.

Available Exemptions

Illinois offers a variety of exemptions to eligible homeowners and individuals. Understanding these exemptions can help you minimize your property tax burden.

**Homestead Exemption:**

• Eligibility: This exemption applies to primary residences and is designed to lower the total tax burden for owner-occupied homes.
• Benefits: The homestead exemption usually reduces your property's taxable value by a set percentage (typically 10% or 20%).
• Application: You must apply for this exemption annually with the McLean County Assessor’s office.

**Senior Citizen Exemption:**

• Eligibility: This exemption is available for homeowners aged 65 and older or for any spouse who qualifies as a dependent, residing in the home.
• Benefits: The senior citizen exemption typically reduces your taxable value by a fixed amount (often 20%)

**Disability Exemption:**

• Eligibility: The Illinois Disability Exemption is for homeowners who have a severe disability that prevents them from working. This exemption may be available to individuals with disabilities like mobility issues, or others with certain physical limitations.
• Benefits: This exemption can reduce the taxable value of your property by a fixed amount (typically 10% or 20%).

**Veteran Exemption:**

• Eligibility: The Illinois Veterans' Tax Exemption is available for homeowners who are veterans of the armed forces and have a disability status.
• Benefits: This exemption can reduce the taxable value of your property by a fixed amount (typically 10% or 20%).

Payment Schedule & Deadlines

Understanding the payment schedule and deadlines for your property taxes is crucial to avoid late fees and penalties.

**Payment Options:**

• Installment Payment: You can choose to pay your property taxes in installments over several months, typically with quarterly payments.
• Online Payment: You may be able to make online tax payments through McLean County's website or other approved financial platforms.

**Payment Deadlines and Penalties:**

• Standard Deadline: The general deadline for property tax payments is the end of February each year.
• **Late Payment Consequences: Late payments will incur late fees and interest charges. If you don't pay in full, your tax liability can grow over time.

Appealing Your Assessment

If you believe your property's assessment is inaccurate, you can appeal the decision to the McLean County Board of Review.

**Appealing Process:**

• Documentation: Gather supporting documentation (e.g., comparable property sales, recent repair costs) to support your claim.
• Deadline: You usually have a specified timeframe (usually around 60 days) after receiving the assessment notification to file an appeal.
• Board of Review: Your appeal will be heard by a designated Board of Review panel in McLean County, where you can present your arguments and evidence.