How Property Taxes Are Calculated

The current Will County property tax bill is for services provided by all of the taxing districts listed in the far-left column on the front of your tax bill.

The township assessor set an assessment on your land and building. The township assessor considered sale figures from three years: 2005, 2006, and 2007. This is state law.

The assessment determines the Total Assessed Value, which is listed five lines down in the right-hand column on the front of your bill.

The exemptions for which you successfully have applied then were subtracted from the Total Assessed Value. The result is the Net Equalized Value. All of these can be found in the right-hand column.

Finally, the Net Equalized Value was multiplied by the Tax Rate. The Tax Rate is listed above Total Amount Due.

The Tax Rate is the sum of the individual tax rates of all the units of government listed under Taxing District. These tax rates are derived from the tax levies adopted by the elected officials of each taxing district listed on your bill.

The Total Amount Due is what you owe, half on June 1, 2009, and half on September 1, 2009.

• Click here for a directory of township assessors and information on how to protest an assessment.
• Why aren’t taxes going down if homes have lost value? Click here. 
• Click Elected Officials for contact information for the elected officials of every taxing district in Will County.
• The property tax laws are written by elected members of the Illinois General Assembly. Contact information for all state senators and state representatives is available at http://www.ilga.gov/.