property

150 Years

The Property Tax Cycle

COUNTY CLERK:
Establishes assessment roll as of January 1st of the assessment year.

TOWNSHIP ASSESSOR:
Values new and existing real estate as of January 1st. Assessor must complete assessment process by November 15th.

SUPERVISOR OF
ASSESSMENTS

1. Applies equalization factor by township.
2. Mails Change of Assessment Notices to taxpayers.
3. Publishes changes and equalization factor in local newspapers.
4. Delivers assessment books to Board of Review.
5. Prepares tentative abstract of assessment books. Submits tentative abstract to Illinois Department of Revenue.

ILLINOIS DEPARTMENT OF REVENUE
Develops tentative county equalization factor; publishes factor in newspapers; and holds public hearings.

BOARD OF REVIEW
1. Assesses omitted property.
2. Processes exemptions and mails to Department of Revenue for approval.
3. Hears assessment appeals and renders decisions.
4. Mails Change of Assessment Notices to taxpayers.
5. Equalizes assessments within county if necessary; submits Report on Equalization to Department of Revenue.
6. Delivers assessment books to County Clerk.
7. Mails Report on Equalization to Department of Revenue.
8. Publishes changes in local newspapers.

COUNTY CLERK
Prepares final Abstract of Assessments and mails to Department of Revenue.

DEPARTMENT OF REVENUE
Develops final county equalization factor.

COUNTY CLERK
Tax extension based on levies submitted by local taxing bodies.

COUNTY TREASURER
Mails tax bills to property owners; tax bills payable in two installments due June 1st and September 1st.