1. January 1st of each year-your property is assessed by the Township Assessor.
2. The Assessor completes the revisions and turns the assessment roll over to the Supervisor of Assessments.
3. Written notice of the Assessor’s revisions are mailed to the taxpayers.
4. The Supervisor of Assessments makes revisions to the assessment roll as necessary and publishes in the local newspapers a list of all parcels where values changed from the previous year.
5. The assessment roll is turned over to the Board of Review. Within 30 days of the above publication, assessment complaints may be filed with the Board of Review.
6. The Board of Review holds hearings into the assessment complaints filed and revises the assessment roll as necessary.
7. When the Board of Review completes your hearing, it can apply an Equalization Factor on a Township basis if the level of assessment is too low or greater than the State required 33.33% (one-third) of market value.
8. Public hearings are held into the Board of Review’s intent to equalize.
9. If equalization is necessary the Board of Review sends written notice of the change in valuation to each taxpayer. The Board also publishes in the local newspapers, the revisions due to assessment complaint hearings.
10. After written notice of the Board of Review revisions, the taxpayer may within 30 days file an assessment complaint with the State of Illinois Property Tax Appeal Board.
11. The Board of Review turns the assessment roll over to the County Clerk, where tax rates are determined. The roll is then certified to the County Treasurer.
12. Tax bills are prepared for mailing by the County Treasurer. The bills are usually mailed by May 1st and due in two equal payments; June 1st and September 1st. Therefore, as an example, an assessment placed on your property as of January 1st causes a tax bill to be issued by May of the following year.