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Property Assessors Offices - Illinois Basics

Invest in real estate with the help of an Illinois property assessor

By Emmet McMahan
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.

 

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.
Try: 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.
Try: 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.
Try: 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.

 

  • 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.

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