How Changes in Assessment Classification Affect Tax Bill (Cook County)

Residential (Class 2) with Standard

Homeowner Exemption


(Class 5)

x    10%Level of Assessmentx    10%
30,000.00Assessed Valuation75,000.00
x  2.9786State Equalization Factorx  2.9786
89,358.00Equalized Valuation223,395.00
(-  6,000)Exemptions(-       0)
83,358.00Adjusted Equalized Valuation223,395.00
x   .0935Tax Rate (Divided by 100)x   .0935
$7,793.97Amount of Tax$20,887.43

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