The first step in calculating property tax is to assess property.  To do this, the Township Assessor determines the market value of the property - how much a parcel would sell for if it were on the open market.  Once market value is established, the Township Assessor multiplies the market value by the assessment level (assessment level in DuPage County for all property classifications, as in most of Illinois, is 33 1/3%.  In Cook County commercial and industrial property is assessed at 25%.  For example, in DuPage County, if the property market value is $60,000, the assessed valuation of it would be $19,998 (33 1/3% of $60,000).  Property taxes levied by county, city, township or village officials are based on this figure.  The local tax rate is determined by comparing the tax base of each taxing district with the budget of that district.

A tax bill is computed in the following manner:  First, the assessed valuation is multiplied by a state-assigned multiplier.  In Illinois and DuPage County (non-Cook County) this multiplier is typically 1.0.  Next, any exemptions are subtracted.  The resultant figure is multiplied by the local tax rate yielding the amount of tax the property owner will pay.

Average Tax Rates by County


Back to Property Taxes 101

Law Office of Dennis M. Nolan, P.C.

Calculating Property Taxes (Non-Cook County)