How does my assessment relate to market value?

State of Illinois requires that all property be assessed at one-third (33.3%) of market value for property tax purposes. To determine your home’s market value, based on the assessment, simply multiply your equalized assessed value by three.  

Show All Answers

1. How can assessments go up if the market isn’t going up?
2. How does my assessment relate to market value?
3. What is the “Supervisor of Assessments Equalized Assessed Value?"
4. How is my tax bill calculated?
5. What can I do if I feel I am being over-assessed?
6. How do I file an Assessment Appeal with the Board of Review?
7. Will my assessment increase because I recently purchased my home?
8. Why does my neighbor pay different taxes when we have similar homes?
9. What will happen to my assessment if I put on an addition or add an improvement?