Rate Breakdown

Property taxes in Will 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 Will County

Property tax is essential to support local government services such as schools, police, and fire protection. In Illinois, the process starts with an assessment of your property's value, followed by a calculation based on your local government's millage rates. **Assessment Process:** * **Appraisal:** Your property’s market value is assessed by qualified appraisers hired by the County or through private appraisal companies. This determines the base value for your property. * **Equalized Assessed Value (EAV):** Your property's EAV is determined by comparing it to other similar properties in your area, adjusted for market conditions and location characteristics. Illinois uses a unique assessment system based on equalization factors to ensure fairness across the state. * **The Impact of Local Government:** The Illinois State government establishes general guidelines for tax assessments, but each county determines how they calculate local property taxes. Will County's local assessments are determined by an annual assessment review process in line with Illinois Department of Revenue requirements. **Mill Rate:** The mill rate is the amount that will be levied on your home's assessed value for every $1000 of EAV. This number is set at the local level and used by Will County to determine property taxes. You can find out more about the specific millage rates in Will County here: [Link to Will County website with Property Tax information]

Available Exemptions

Illinois offers several exemptions that can reduce your tax burden, including: * **Homestead Exemption:** This exemption is available for eligible homeowners who own their property and have resided there for at least one year. The Homestead Exemption reduces the assessed value of your home by $10,000. * **Senior Citizen Exemption:** If you are a senior citizen (age 65 or older), you may be eligible for this exemption. This exemption decreases the assessed value of your home by $5,000. * **Disability Exemption:** The Illinois Disability Exemption offers relief to homeowners with significant disabilities that prevent them from using their property in full. The amount of exemption is dependent on your individual circumstances and will need to be verified through a certified professional. * **Veteran Exemption:** This exemption benefits veterans who served in the U.S. Armed Forces (including National Guard). The veteran’s military service, including branch of service and rank, will be used to determine the amount of exemption.

It's important to note that these are general guidelines, and specific requirements for each exemption can vary.

To learn more about eligibility criteria, visit the Illinois Department of Revenue website: [Link to Illinois Department of Revenue website with information on exemptions]

Payment Schedule & Deadlines

Will County has a payment deadline of April 30th each year. You can pay your property taxes in one lump sum or set up a payment plan, which will allow you to spread the payment out over several months. To learn more about how to make installments and late payment consequences, visit [Link to Will County Tax Information website].

Appealing Your Assessment

If you believe your assessment is inaccurate, you can file an appeal with Will County's property tax appeals board. You will have the opportunity to provide justification for your appeal and request a hearing if necessary. For more details about the appeal process and timelines, visit [Link to Will County Property Tax Appeals website] .