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Assessor,
REBECCA M. TONIGAN, C.I.A.O. |
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My staff and I would like to wish you all a safe and
happy New Year. As mandated by
Illinois state law, a sales ratio study is performed to see if our
assessments meet the required 33 1/3% of fair market value for the prior
three years sales to establish a basis for our assessments. For purposes of
this study, the sales will be from January 2006 through December 31,
2008. We are committed to equity and
fairness and, as such, should the sales show a decrease in values, then this
decrease will be reflected in the assessments. To the same end, should the
sales show an increase in a neighborhood, then, that too, will be reflected
in the assessments. We are not
planning on doing a total reassessment and have been notified by the Lake
County Supervisor of Assessors office that we will probably have a factor of
over 1.000, which means all properties will have a slight increase. As I have stated in previous newsletters, I
have no control over the equalization factor applied.
This number comes from the values of all properties and where they
fall in that 33 1/3% study, the amount of values decreased or increased by
all property owners in the Township through the Lake County Board of Review and the outcome of any Property Tax
Appeal Board decisions. I would encourage all of you to review your
properties online at www.lakecountyil.gov/assessor/assessments to
make sure that we have correct information regarding square footage and
amenities. If you see any
discrepancies, please contact us at (847) 381-1120 and we will be happy to
make an appointment to review those differences. Also, please make sure you have the appropriate
exemptions applied to your property.
As reviewed in previous newsletters, there are several types of exemptions available. Some of the exemption amounts have now
increased. They are as follows: General Homestead $6,000 Senior Homestead $4,000 Homestead Improvement $25,000 assessed/$75,000 market Senior Freeze Income $55,000
(of total household income or less) Senior Tax Deferral Income $50,000 through the Treasurers office Disabled Veteran’s Exemption $70,000 assessed Returning Veteran’s Homestead $5,000 a one time deduction of the
veterans’ primary residence |
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FINANCIAL
ASSISTANCE WITH HEATING BILLS FOR LOW
INCOME HOUSEHOLDS
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