A township assessor is an elected official who is responsible for determining the market value of most real property in the assessment jurisdiction. An assessor does not establish market value; rather it is set by what buyers are willing to pay and what sellers are willing to accept. The valuing of a multitude of properties or mass appraisal is accomplished by using standard methods, while allowing for statistical testing. Properties are assessed as of January 1st of the assessment year, based on the three prior year’s sales activity. An assessor, unlike an appraiser or real estate agent does not determine fair cash value based on current market activity.
After discovering, listing, and determining market value all properties are assessed at the statutory 33.33% (one-third of market value). All properties must be assessed uniformly. The assessed value is used to apportion the tax burden over all property owners. Local governments, schools, forest preserves, park districts, libraries, etc. receive their income from taxes levied against property values as appraised by the township assessor.
The assessor does not estimate or compute taxes, nor does an assessor determine the tax rate, send out tax bills or collect property taxes.
The township assessor keeps property record cards, which contain all the pertinent information of each parcel in the jurisdiction. Along with current value conclusions, the information includes a brief legal description, land size, dimensions of all building and building types. Sales activity and building permits issued are also displayed on the property record card. Most of this data is gathered when improvements on the property are being built, then subsequently updated by periodic field inspections. Property record cards are public information and are available at the assessor’s office. Please phone for an appointment.
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