The following tables include property tax statistics for taxing districts compiled from the PTAX-250 series abstracts reported by county clerks and treasurers to the Illinois Department of Revenue. The property tax cycle extends over a two-year period. During the first year, referred to as the assessment year, property is assessed by local assessment officials, and the following year property taxes are extended, collected, and distributed to local taxing districts. The tax year of each table is the year of assessment for property taxes extended and collected the following year. For example, the 2008 table represents 2008 tax (assessment) year for taxes payable 2009.
Taxing Districts Summary of Funds Table
This table details the tax levy, tax rate, maximum tax rate, and tax extension by individual fund for each taxing district within the county. The “Levy” is the amount of money to be raised from property taxes to support the operating needs of the taxing district during the year. The “Rate” is the amount of tax due stated in terms of percentage of the tax base. The tax rate percentage is derived by dividing the levy for a fund by the equalized assessed value (EAV) for the taxing district. Some funds have a statutory maximum rate that cannot be exceeded. The “Fund Extension” is the amount of taxes billed for each taxing district. The county clerk extends taxes by multiplying EAV by tax rate for each fund. The sum of the fund levies, rates, and extensions are listed following each taxing district.
Taxing Districts Valuation, Rate and Extension Table
This table details for each taxing district the EAV and current taxes extended by property class, and the total rate of all the funds. The EAV is the total assessed value of parcels of property within the taxing district, after applying the state equalization factor. Tax bills are calculated by multiplying the EAV by the tax rate to derive the amount of taxes extended for the taxing district.