How is property tax calculated/assessed?

Question

Specifically in Carol Stream, IL which is in DuPage County.

Answer 1

An assessor evaluates the home, and sets an assessed (tax) value. You can appeal that if you don't think it is correct. But many areas don't value houses at the price they'd probably sell for. You need to check your assessment against that of comparable homes in your area, not always an easy thing to find. You can get tax values of property at your county courthouse, but you'd have to track down "comparable" houses.

Then each governmental body that charges taxes in your area applies a particular percent to that value to calculate taxes.

Answer 2

I would call the county, each has a different % of the house value. Where I live it is 1 1/2% of the home value. When you buy a home you pay 1 1/2% of the value at purchase but they can reasses value and raise what you have to pay each year (if the price of the home increases).
The front of your local phone book should have the number. If not try searching on the internet type "Property Tax DuPage" and see what comes up. Good luck!

Answer 3

See this link.

http://www.dupageco.org/emplibrary/ACFE94.pdf