Understanding and Appealing Your Property Tax Bill Presented

Understanding and Appealing Your Property Tax Bill Presented by: Gregory A. Boltz – Assessor – DG Township Hosted By:

Basic Assessment Terminology

Market Value The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.

Assessed Value The value placed on property for tax purposes and the basis for determining what portion of the overall tax burden each property owner will bear. In Illinois (excluding Cook County) assessments are set at 1/3 of Market Value.

Equalized Assessed Value (EAV) EAV is the result of the application of factors (multipliers) from the Supervisor of Assessments and the State of Illinois to the assessment originated from the Assessor. 2018 Assessor Supervisor of Assessments Equalization Factor 106, 820 X 1. 0392 x 2018 State of Illinois Factor 1. 00 = EAV 111, 000

Tax Formula 2018 Market Value $320, 492 2018 Assessed Value 106, 820 (320, 492 x. 3333) 2018 S of A Factor 1. 0392 2018 State Factor 1. 0000 2018 Assessed Value 111, 000 (106, 820 x 1. 0392 x 1. 0000) Res Ex. -6, 000 Sr. Ex. -5, 000 2018 Net Billable EAV 100, 000 (111, 000 – (6, 000 + 5, 000)

Taxing Body – 9026 Du. Page County Millage Rate. 1673 Net Billable EAV 100, 000 Tax $ 167. 30 Forest Preserve District . 1278 100, 000 $ 127. 80 Du. Page Airport . 0146 100, 000 $ 14. 60 Downers Grove Twp . 0318 100, 000 $ 31. 80 Downers Grove Twp Rd . 0510 100, 000 $ 51. 00 Village DG – EX Fire . 4331 100, 000 $ 433. 10 Village DG Fire . 1134 100, 000 $ 113. 40 Village DG Library . 2111 100, 000 $ 211. 10 Downers Gr San. Dist. . 0398 100, 000 $ Downers Gr Park . 3256 100, 000 $ 325. 60 Grade School 58 High School Dist. 99 College of Du. Page TOTAL 2. 0182 100, 000 39. 80 $2, 018. 20 1. 9500 100, 000 $1, 950. 00 . 2317 100, 000 $ 231. 70 5. 7154 100, 000 $5, 715. 40

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Exemptions A preferential redistribution of tax liability established by the legislature by creating exemptions for individual groups with distinct circumstances. Exemptions can be partial or complete. The redistributed tax liability is picked up by the balance of the taxpayers not afforded some or all of the exemption(s). Available Exemptions Ø Residential Homestead Ø Disabled Persons Homestead Ø Homestead Improvement Ø Veterans’ Exemption Ø Senior Homestead Ø Returning Veterans’ Exemption Ø Senior Assessment Freeze

Residential Homestead Illinois statutes provide for an exemption of up to 6, 000 in equalized assessed value on homes occupied by the person legally responsible for the payment of real estate taxes. This exemption is automatically applied.

Homestead Improvement Granted to owner-occupied property where an assessed improvement or addition has been constructed. It deducts the assessment attributable to the new improvement, up to 25, 000, from the total assessment ($75, 000 actual value). This four year exemption is automatic, an application is not required.

Senior Homestead To qualify you must be 65 by December 31 st of the assessment year for which the application is made, own and occupy the property, and be liable for the payment of real estate taxes on the property. The exemption reduces the equalized assessed value by 5, 000. Proof of age and ownership is required with the application. An application is available at the Assessor’s Office, the Supervisor of Assessments Office, or on line at: www. dupageco. org/SOA/1475/ - Du. Page County

Senior Assessment Freeze This is an additional exemption provided to senior citizens eligible for the Homestead Exemption, with one additional requirement: the total annual GROSS HOUSEHOLD income cannot exceed $65, 000. For application, questions, or additional information concerning the exemption, please call the Assessor’s Office or the Supervisor of Assessment Office at: (630) 407 -5858 – Du. Page County

Types of Appeals Comparable Sales – Market Value Uniformity Contention of Law

Comparable Sales (1 of 3) Ø Most common in a down turning market. Ø Burden of proof: preponderance of evidence. Ø Evidence may include: Ø Sale of the subject. Ø An appraisal of the subject. Ø An assembly of comparable sales.

Comparable Sales (2 of 3) o If submitting comparable properties it is recommended to include a property record card for every comparable sale you use. It is also recommended to complete all data on the grid. The more complete the data on the grid sheet typically results in a higher probability of a successful appeal. o The comparable sales should be similar in location, design, size, age and amenities.

Comparable Sales (3 of 3) Please note: An appraisal for purchasing or re-financing is developed for a different purpose than for developing an assessment. As a result, the value conclusion may not necessarily result in an accurate assessment indication. Additionally, any appraiser would be in violation of USPAP if they testify to any value conclusion outside the purpose of the appraisal for which it was developed.

Uniformity (1 of 2) Ø Requires a knowledge of the neighborhood. Ø Compares your property to other similar properties in similar areas. Ø Burden of proof: Clear and convincing. Ø The comparable properties should be similar in location, design, size, age and amenities.

Uniformity (2 of 2) If submitting uniformity properties it is recommended to include a property record card for every property you use. It is also recommended to complete all the data on the grid. The more complete the data is on the grid sheet typically results in a higher probability of a successful appeal.

Contention of Law Rarely used for residential improved properties. Typically adjudicated by counsel. Legal briefs must accompany the appeal.

Appeal Process Call your Assessor’s Office File at the Board of Review File at the Property Tax Appeal Board

Call Your Assessor’s Office! (1 of 2) Ø Many times an issue can be resolved without going through the appeal process. Ø The Assessor cannot address your specific issue unless you tell them about it. Ø Please afford the Assessor the opportunity to review and resolve your issue without the time consuming process of appealing. Ø Contacting your Assessor’s office with your comparable sale(s) and other information may save you time and additional effort. You still maintain your rights to appeal to the Board of Review/Property Tax Appeal Board.

Call Your Assessor’s Office! (2 of 2) Ø Have you recently purchased a home? You may be able to avoid the process of appealing your assessment by submitting the following information to the Assessor’s office for review: Ø A copy of your Final Closing Disclosure or Settlement Statement.

File at the Board of Review You have up to 30 days after publication of the assessments to file an appeal with the Board of Review. The Board of Review website is: www. dupageco. org/SOA/1475/ The appeal options are the same as previously mentioned: Ø Comparable Sales – Market Value Ø Uniformity Ø Contention of Law

Board of Review Appeal Grid

File at the Property Tax Appeal Board You have up to 30 days after the Board of Review publishes its final decisions to file at the Property Tax Appeal Board. Their website forms is: http: //www. ptab. illinois. gov/Filing. html#tabs-2 The appeal options are the same as the Board of Review: Ø Comparable Sales – Market Value Ø Uniformity Ø Contention of Law

PTAB Appeal Grid

Q&A

THANK YOU!! We would like to thank you for joining us today! A special thank you to the Mainstreet Organization of REALTORS® for organizing this Town Hall. Please don’t hesitate to contact our office with questions.

Contact Information Downers Grove Township Assessor 4340 Prince Street Downers Grove IL 60515 Phone: 630 -719 -6630 Fax: 630 -719 -6653 Email: assessor@dgtownship. com Website: www. dgtownship. com Hours: Monday – Friday, 8: 30 am – 4: 30 pm