Click Here For Printout of HOMESTEAD EXEMPTION FORM in PDF Format
This county department administers the property assessment cycle for the local real estate tax. Your local property taxes fund the operation of our schools, cities, park districts, libraries, township and county governments, and other agencies. Property taxes, unlike income or sales taxes, are based on the value of property. Each township has an elected assessor that appraises property. The assessed value of the property becomes the tax base upon which local agencies levy taxes. In Illinois, a legal assessment is 33 1/3% of market value. The assessor does not determine how much your taxes are; rather, by placing a value on property, he/she is distributing the overall tax burden among all the property owners. The actual dollar amount of your tax bill is determined by how much money each local agency needs to operate. A list of Ogle Countys township assessors follows.
In most cases, your assessor places the initial assessment on your property. That information is then submitted to this office for processing, deducting exemptions, etc. Questions regarding buildings and other improvements should be directed to the appropriate township assessor. Your township assessor can also address any questions or concerns you may have about your assessed value. What Property Tax Exemptions Are Available? There are a variety of property tax exemptions available to homeowners to help reduce their tax bills. Most require that the property be residential, and be owned and occupied by the taxpayer. There are additional exemptions for senior citizens, certain disabled individuals, certain disabled veterans, and veterans returning from active duty. The dollar amount of these exemptions changes almost yearly. Some of these require a one-time application, others must be renewed every year. Further information about these exemptions is available from the Ogle County Supervisor of Assessments. In addition to the above, there is a tax deferral program for seniors that is administered through the Ogle County Treasurer’s office. The State of Illinois also has certain grants and/or reimbursements for property taxes under their Circuit Breaker program. This is administered by the Illinois Department of Revenue, and application should be made directly to them. Shown below are the homestead exemptions administered by the Supervisor of Assessments office: General Homestead Exemption (commonly called “owner occupied exemption”) Senior Homestead Exemption (age 65 and over) Senior Freeze Homestead Exemption (age 65 and over, income limitations) Home Improvement Exemption (exempts increase in value due to improvements for 4 years) Disabled Persons Exemption (requires state-certified proof of disability) Disabled Veteran’s Exemption (requires certification of disability) Returning Veteran’s Exemption (one time exemption for returning veterans) All but the General Homestead and Senior Homestead Exemption require annual renewal. See the Ogle County Treasurer’s office for the Senior Citizen Real Estate Tax Deferral. What if I think
Im over-assessed? How are tax
bills calculated?
In this example, a house with a market value of $150,000 is assessed at 33 1/3% of value, or $50,000. The general homestead exemption reduces the taxable value. The tax rate of 8.50% is determined by the money requested by the school, city, county, parks, etc. Generally, tax rates are slightly less in rural areas where fewer services are offered. Why do taxes
keep going up? If you are concerned
about rising property taxes, you should:
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