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The County of DuPage
Wheaton, Illinois
 

Supervisor of Assessments News

(03/12/2014) Illinois Department of Revenue Certifies Final 2013 State Equalization Factor

After reviewing the Final Abstract of Assessments and other related materials, the Illinois Department of Revenue certified the 2013 final (State) equalization factor as 1.0000 for DuPage County. This indicates that DuPage County’s aggregate level of assessment is at or near the statutory level of assessment.

(02/14/2014) Board of Review 2013 Adjournment – Final Abstract Filed with Illinois Department of Revenue.

As of today, the Board of Review has finalized their 2013 assessment-year revisions and the County Clerk has filed the 2013 Final Abstract of Assessment with the Illinois Department of Revenue. The Department of Revenue will analyze the abstract and the relevant sales to assessment ratio studies to calculate the Final 2013 State Equalization Factor. The Board of Review is scheduled to mail their Final 2013 Decision Notices on March 14, 2014. The final date to file an appeal of a Board of Review decision to the Illinois Property Tax Appeal Board is April 14, 2014.


(10/13/2013) Illinois Department of Revenue issues a 2013 Tentative State Equalization Factor of 1.0000 for DuPage County.

The Department of Revenue has determined that DuPage County is at the statutory level of assessment and that unless current-year Board of Review revisions significantly alter the level of assessment, no further global assessment changes will be needed for 2013.


(09/24/2013) Tentative Abstract of Assessment Filed with Illinois Department of Revenue.

After receiving the last township assessor revisions for the year on 09/19/2013, the Supervisor of Assessments Office filed 2013 Tentative Abstract of Assessments with the Illinois Department of Revenue. The Department of Revenue will review this document, along with the relevant sales ratio reports and determine of DuPage County’s current assessed values are at the statutory level of assessment.

(04/23/2013) Senior Exemption Increased for the 2013 pay 2014 Tax Year

Senate Bill 1894 was enacted today.  This new law increases the maximum assessed value deduction for the Senior Citizens Homestead Exemption from $4,000 to $5,000, effective for the 2013, pay 2014 tax year.  Assuming a tax rate of $7.70 per $100 of assessed value, this change will shift approximately an additional $77 of tax burden (4,000 at a rate of $7.70 equals $308 vs. 5,000 at $7.70 equals $385) away from individuals receiving the exemption to all other taxpayers.

(04/08/2013) Illinois Department of Revenue Certifies Final 2012 State Equalization Factor

After reviewing the Final Abstract of Assessments and other related materials, the Illinois Department of Revenue certified the 2012 final (State) equalization factor as 1.0000 for DuPage County. This indicates that DuPage County’s aggregate level of assessment is at or near the statutory level of assessment.

 

(03/11/2013)  Special Note about the Senior Citizens Assessment Freeze Homestead Exemption

Why are my taxes going up when I have the Senior Freeze?

The Senior Freeze Exemption is a significant benefit to seniors and becomes more valuable from year to year during times of increasing assessments. However, in the current declining market, many seniors find themselves losing some or all of the benefit from the Freeze and, as a result, paying substantially more in taxes.

The Senior Freeze Exemption does: 
    Freeze the taxable value of your property
    Stabilize property taxes in an increasing market


The Senior Freeze Exemption does NOT: 
    Freeze your tax bill 
    Freeze the tax rate

Who Qualifies?
    The Senior Freeze Exemption is available to seniors at least 65 years of age, with total household income of $55,000 or less, who own their home and live in it as their principal residence.

What is the Benefit?
    The exemption freezes the taxable assessment at the level of the base year. The base year is the year prior to the initial application.

How is the Exemption Amount calculated?
    The amount of the exemption is not the same for every senior and varies from year to year. The exemption amount is calculated by subtracting the base year assessment from the current year assessment. The difference is the amount of the exemption.

The current declining market is having two effects on the tax bills of seniors with the Senior Freeze Exemption.
The Senior Freeze Exemption Amount decreases in a declining market. In a declining market, as assessments go down, the difference between the base year assessment and the current year assessment also goes down, thereby decreasing the amount of the Freeze exemption. If the current year assessment actually falls below the base year value, there is no exempt value to be deducted from the assessment and no benefit from the exemption. While the new lower value does become the adjusted base year value, it will only be beneficial when the market recovers and assessments begin to increase.

Tax Rates are increasing in the current declining market. The tax rate is nothing more than a calculation; total funds requested by the taxing body (the Levy) divided by the total assessed value in the jurisdiction. As assessments go down – if taxing body spending stays the same or increases – tax rates go up. Last year the assessed value of DuPage County decreased by 6.9% and tax rates increased, on average, by 9.1%.

As a result, many seniors with the Freeze now find themselves with dramatically increasing property taxes. Their Senior Freeze Exemption amount is reduced or even zero and their tax rate is higher. And unfortunately the Senior Freeze exemption will only be beneficial again when assessments begin going up.

 

(03/23/2012) Illinois Department of Revenue Certifies Final State Equalization Factor

After reviewing the Final Abstract of Assessments and other related materials, the Illinois Department of Revenue certified the 2011 final (State) equalization factor as 1.0000 for DuPage County. This indicates that DuPage County’s aggregate level of assessment is at or near the statutory level of assessment.

(02/24/2012) Board of Review Completes 2011 Assessment Year Appeal Session

The Board of Review completed the last of the 2011 assessment year hearings on February 15, 2012. The Board will mail their written decisions on 03/23/2012. These decisions are appealable to the Illinois Property Tax Appeal Board (PTAB) or a court of proper authority. The deadline to appeal a 2011 DuPage County Board of Review decision to the PTAB is April 23, 2012.

The County Clerk filed the 2011 Final Abstract of Assessments with the Illinois Department of Revenue on 02/24/2012. The Department will review the abstract, along with other data including real estate transfer declarations, and it will issue a Final State Equalization Factor that the County Clerk will utilize in the extension of the 2011 property taxes.

 

(12/06/2011) Illinois Department of Revenue 2011 Tentative Equalization Factor

On December 6, 2011, the Illinois Department of Revenue certified a 2011 tentative equalization factor for DuPage County of 1.0000.  As part of this determination, the Department found that the assessed value revisions made by the Township Assessors, combined with the values changes caused by Supervisor of Assessments Equalization, resulted in moving the level of assessment for each of the nine townships within DuPage to the statutory level.  If the Department found that level of assessment for DuPage County was not at the statutory level, the Department would have issued a tentative factor other than 1.0000 to globally increase or decrease all assessed values in DuPage County to reach that statutory level. 

The Department of Revenue will issue a final 2011 equalization factor after it has reviewed the cumulative effect of the assessment revisions made by the DuPage County Board of Review have made to the aggregate level of assessment for DuPage County.

2011 Tentative Equalization Factor Packet

 

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