Property assessors offices in Illinois education and training will teach you how to appraise personal and real and personal property in order to estimate its fair market value. Property assessors may also assess property for the purpose of setting property taxes in accordance with a prescribed schedule.

The requirements needed to assess an Illinois property value is complex and vary by the type and value of the property being appraised. Generally, these requirements may be grouped in the following categories:

1. Education. While there are no formal degree requirements for Illinois county assessors, most practicing assessors have at least a bachelor’s degree, preferably in economics, finance or real estate. However, the specific courses that a property assessor needs are usually taken at a community college or professional assessor organization.
2. On-the-job training. This is required to obtain a license or certification and should be acquired in the office of an independent fee appraiser, if possible.
3. Licensure. Federal law requires that Illinois property assessors have a state-issued license if they will be involved in transactions requiring a federal loan of $250,000 or more.
   

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Complete the courses needed to perform Illinois property assessments

There are a variety of on-site universities and distance learning classes that teach students to use an Illinois property database. These institutions should update their curriculum frequently to reflect changes in the state's educational requirements for property appraisers.

I recommend: The Appraisal Education Center provides courses in appraisal that are approved for Illinois. Oakton Community College offers an appraisal curriculum that is approved by the Illinois Department of Financial and Professional Regulation.

Get on-the-job training for Illinois property assessment

Job training for property appraisers in Illinois has specific requirements, as laid out by the Illinois Real Estate Appraisers Board. These requirements stipulate the length of time the training must take, the way in which the mentor must monitor the process, and the type of experience the trainee must acquire.

I recommend: The Illinois Department of Financial & Professional Regulation provides extensive information on the experience requirements for appraisers in Illinois. Southwestern Illinois College summarizes the work experience needed for each category of appraiser in Illinois.

Become a licensed Illinois property assessor

Illinois recognizes three categories of appraisers. A state licensed real estate appraiser may appraise residential property of up to $1,000,000 in value. A state certified residential real estate appraiser may appraise any residential property and a state certified general real estate appraiser can perform appraisals on all types of property.

I recommend: The Illinois General Assembly provides the complete licensing requirements for appraisers in Illinois. The College of DuPage summarizes the complete licensing requirements for appraisers in Illinois.

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• •  Illinois property assessors must meet the minimum certification and licensing requirements established by the Appraisal Qualifications Board (AQB) of the Appraisal Foundation. However, many states have more stringent licensing requirements than those required by the AQB. For example, a state may require an appraisal license for all appraisers regardless of the transaction value of the property.

Illinois property assessors are not employed by the state but, rather, by local municipalities like counties and townships. Property taxes are handled on a 2-year cycle. Illinois property value is determined in the first year and billed in the following year. So, residents are always paying taxes from the previous year.

Illinois property tax assessments are based on 33.33% of the property's market value, except for farmland. The assessments can cause your taxes to go up or down depending on the condition and value of your property.

Illinois property assessors also provide a variety of other information to the potential investor besides just property tax records. Ownership changes, up-to-date maps of property lines and property descriptions are just a few other things they handle. In addition, they analyze trends in property sales prices, the costs of constructing a new property and the average expense for renting property.

Property assessors' tax records in Illinois can help you:

1. Track property market trends by following Illinois property history.

2. Use Illinois property assessment information to research potential investment properties.

3. Compare Illinois property taxes across the board to see if the assessment is fair.

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Know the ins and outs of how Illinois property assessors operate

Knowledge is power. If you don't understand Illinois property assessment, you won't know if the assessment on your land or building is fair.

I recommend: Bankrate.com explains how property assessments are completed; just click on the "Property" tab for more information. The Illinois Revenue website helps you understand the property tax system, provides a tax finder tool and gives an explanation on how to read your property tax bill.

Use online tools to obtain Illinois property tax assessments

Illinois property assessors make it easy to search through records because most post them in online databases and provide a variety of tools to help you search. Illinois property values are public record and there are a number of free county databases, along with those you can subscribe to.

I recommend: Searchsystems.net’s online database, DirectPass is a complete Illinois property database. For around $5 a month you can browse property tax records by municipality. Intelius' tracking tool provides Illinois property information for a small fee. Skipease is a free Illinois property owner search which provides specific links to property assessors offices - Illinois.

Estimate your taxes based on similar Illinois property value

If you're buying an investment property that's similar to several others in the area, it's safe to assume that Illinois property assessors will assess your property at an amount close to what the neighbors will pay. Unless there are vast discrepancies in the condition, age or size of the building or lot, your taxes will be comparable.

I recommend: Get property tax information by simply typing in your neighbor's address or the address of an investment property into Assessor Links USA’s search tool, a free Illinois property database. Several municipalities, including Cook County Assessor's Office, Lake County Chief County Assessment Office and the City of Bloomington Township Assessors Office all have online search capabilities with a variety of tools like interactive maps, property comparison, classification descriptions and more.

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• •  Appeal an assessment to the Illinois property assessor if you think it's way out of proportion. If they don't allow an informal hearing, file a grievance form.

Property assessors offices - Illinois basics should include an understanding of the essential functions that these offices perform. The primary purpose of a property assessor is to estimate the fair market value of real property. The government usually performs property assessment at the county or city level to determine the property taxes that each property owner should pay. Private companies also perform property appraisals, usually for people seeking to buy or sell a home.

There are many sources of information for people who wish to learn more about the fundamentals of Illinois property assessments. These sources generally provide information for the following categories:

1. State-specific information on Illinois property taxes. All property assessors in Illinois must follow the same state laws and procedures.
2. Local property assessors offices. These offices will have the most current information on a specific property within that city or county. Property owners also appeal property assessments through the local property assessors office in most cases.
3. Commercial property appraisers. Private appraisers attempt to estimate the value of a property for the purpose of obtaining a loan. They frequently specialize in properties within a particular geographic area.
   

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Find information on Illinois property tax records that is common to all property in Illinois

Illinois has information on property assessment that is common to all counties and cities in Illinois. This may include state laws on property assessment and answers to frequently asked questions.

I recommend: The Illinois Department of Revenue provides general information on property taxes for Illinois. The Illinois Association of Realtors provides basic information on the homeowner's rights regarding property taxes in Illinois.

Get information on property assessment from your local Illinois county assessors office

The property assessor for your county or city frequently will allow you to search an Illinois property database. This office usually calculates the assessment by using a general formula, although property assessors also may perform an on-site assessment on a specific property.

I recommend: The Dorr Township Assessor outlines the property tax exemptions that it provides and also has an online property search. The Milton Township Assessor's Office has a FAQ on basic property tax issues.

Locate basic information on Illinois property assessment from a private property appraiser

A mortgage lender in Illinois will generally require a property appraisal before approving a loan. Private property appraisers frequently provide general information on property appraisals and also may have specific knowledge about a particular area.

I recommend: Brian J. Davis & Associates in Bloomington describes common approaches to property appraisals in Illinois. Appraisals by Brian Lucas has a summary of the property appraisal process, including appraisal reviews.

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• •  Illinois property assessors must calculate the amount of each property tax. The assessed value of the property is multiplied by the tax rate for each type of tax to obtain the dollar amount for that tax. Real property may be subject to a variety of property taxes that support essential functions, such as government and education. Each of these taxes has a specific tax rate.

Illinois property assessors offices laws and regulations deal with property taxes that are based on the estimated value of real property. The fair market value is the most common standard of value used in Illinois, although there are other standards, such as the foreclosure value or distressed sale value. A property tax exemption is applied by reducing a property's assessed value by a specified amount before calculating the property tax.

There are a variety of information sources regarding the laws on Illinois property taxes. These sources include the three following categories:

1. The Illinois state government. These sources offer official information, including state laws that deal with Illinois county assessors.
2. County and municipal governments in Illinois. These sources provide the rules and procedures for a specific property assessors office in Illinois.
3. Illinois law firms that include property law as one of their areas of practice. These firms may provide information on specific issues of property tax laws in Illinois.
   

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Examine the laws that control assessors of Illinois property assessors

The state government of Illinois will have specific laws for property tax assessors. Private organizations also provide summaries and general information on property tax assessor laws in Illinois.

I recommend: The Illinois General Assembly describes the duties of the property tax assessor in the Property Tax Code. The Illinois Department of Commerce and Economic Opportunity summarizes the legal incentives for property taxes in Illinois.

Study the procedures for conducting Illinois property assessment in a particular jurisdiction

Local governments have specific procedures for property assessments and also may offer an online search of an Illinois property database. A complete list of Illinois property tax records may also be available.

I recommend: The Supervisor for Assessments in Adams County provides an overview of the legal assessment value of property in Illinois. The Cook County Assessor's Office provides descriptions for the property tax exemptions that Illinois law allows.

Review Illinois property assessors laws from law firms in Illinois

Illinois lawyers who specialize in property law frequently offer summaries on the property taxes that are assessed in Illinois. They also may write articles on specific issues regarding property taxes in Illinois.

I recommend: Elliott & Associates provides a FAQ with specific information on property assessment law in Illinois. The Law Office of George N. Reveliotis offers an article on understanding property assessment in Illinois.

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• •  Many laws on Illinois property assessments are the result of the Financial Institutions Reform and Recovery and Enforcement Act (FIRREA). The savings and loan crisis of the late 80s resulted in the passage of the FIRREA in 1989, which required the adoption of property appraisal standards in the United States.