ROCKFORD (WIFR) -- It’s one piece of mail we probably don't want to see but it'll be showing up in our mailboxes soon, our property tax bill.
The local assessor's office is in charge of figuring out what our home is worth. In Rockford Township, the assessor used comparable sales in the last three years to figure out home values. Once that value is determined, it's divided by 33.3%, which is called the assessment rate. That number is dictated by the state of Illinois. From that figure, any exemptions are deducted, and then divided by that year’s tax rate to calculate the bill.
The tax rate is set by the County Clerk’s office and includes the tax levies for local government bodies that take in property tax revenue. Those bodies include the school district, park district, city and county. For 2013, the Rockford Park Distract and Winnebago County increased their tax levies but District 205 and the City of Rockford did not.
According to the Rockford Township Assessor Ken Crowley, most assessments dropped by 6%, which means less money coming in for local taxing bodies. These bodies still need revenue for their operating budgets and that lead to an increased tax rate. In 2012, it was 12.9%. In 2013 it will be 14.1%. Taxes for the entire year of 2013 get collected in 2014. Payments are due in June and September.
There were more than 4,300 appeals filed in the township for the 2013 assessments, 74% percent of those appeals resulted in a decrease in the tax bill. Tax bills should be in the mail within the first week of May.
For homeowners in Rockford Township: http://www.rockfordtownshipassessor.net/default.asp
For those living in Winnebago County: http://winnebagotreasurer.com/
For homeowners in Boone County: http://boonecountytreasurer.us/