Courtesy of the Kane County, here are some answers to questions you might have regarding your property-tax bill, coming soon to a mailbox near you.
Here are some frequently asked questions about your big, fat property tax bill, which should be arriving in the mail shortly. The Q's and A's are courtesy of your Kane County treasurer's and assessor's office. Q: My assessed value declined; why did my tax bill go up? A: Your taxes may be higher than they were last year for any or all of four general reasons: Q: Where does the property tax money come from? A: It comes from all types of property, according to its proportional value of the total property in the county, but the biggest chunk is residential property: Q: Where does the property tax money go? A: The largest portion goes to the school districts; the remaining portions go to the other local governments in the county: Q: Does Kane …
A year ago, the Geneva City Council voted to "freeze" the tax levy. This year, the recommendation is to take the full 3 percent increase as allowed by the tax cap. The School District earlier this week sought 1.5 percent.
There are always a lot of questions regarding a tax levy, but maybe the one that's on the top of Geneva residents' minds is whether the City Council will take a stand this year to keep it flat. A year ago, in a split vote, aldermen decided to hold the line on the tax levy, which essentially limits the amount the city can collect from property taxes. The entire process is convoluted and butt-backwards, because local government units have to set the levy amount before they know what the tax assessments are going to be. That means, as a strategy for the taxing entity, it's better to guess high in case the estimates don't come in as expected. As Tim Moran pointed out earlier in the week, a taxing body can levy a trillion dollars if it wanted …
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12:39 pm on Saturday, November 17, 2012
Please let us all know, Bob, exactly how we taxpayers can responsibly "go on strike", because I think we are ready for just that. We've recently been on the receiving end of that sort of credible threat from our Teachers' Union--maybe it's time we used the same pressure against those who presume to take our money (again) for needs that do not exist--and likely will not exist. In any case, … more ›
John R
2:35 pm on Friday, May 10, 2013
In Geneva some went up a little and some went down. A random sample of my neighborhood, Green Willows on the east side, shows that most went down. Fox Run neighborhood was also a mixed bag of ups and downs. Overall, not nearly as bad as I had thought it was going to be. For the record our property taxes went down. more ›