Learn About Will County Property Tax Exemptions With DoNotPay
Will County is growing economically, and its residents enjoy a high standard of living, with 80% of them owning their own homes. Bearing this in mind, you could expect Will County’s property tax rates to be low and Illinois to be a state with low property tax.
Instead of affordable taxation, though, Will County homeowners are hit every year by an effective property tax rate of 2.64%—one of the highest rates in the country.
How Is Will County Property Tax Calculated?
Will County’s high property taxes are so high due to the over 8,000 taxing authorities all seeking your tax money to fund their activities. These range from the usual schools, fire departments, and police services to park districts and even mosquito abatement districts.
Your property tax bill in Will County is calculated using two factors, as follows:
- Property assessments
- Tax rate
The Will County property tax assessment process appraises every property in the county every two years using the following process:
|Year one||Every property is assessed using sales values as the baseline for valuation|
Following the equalization process, the county and the state agree on an Equalized Assessed Value (EAV) for each property, which averages out at 33.33% of its market value.
Property tax rates across the state of Illinois are calculated according to the number of residents or the total property value in the county. In the second year of the property tax cycle, each county decides on its tax rate based on the amount of money it needs to fund all the services it offers.
This means that the tax rate in Will County can fluctuate depending on the funding needs in a particular year. The amount by which it can increase is limited by legislation, though, so the tax rate can be raised only by inflation or 5%, whichever is lower.
When Do I Need To Pay Property Tax in Will County?
Will County, in response to pressure from its residents, offers payment plans to help you pay your property taxes.
Under the split payment scheme, you can pay in two installments, each of which can be split into two tranches. This is not mandatory, so you can still pay in one lump sum if you wish.
Here are the deadlines for paying your property tax in Will County:
|June 3||The first half of the first installment due|
|August 3||The second half of the first installment due|
|September 3||The first half of the second installment due|
|November 3||The second half of the second installment due|
What Will County Property Tax Exemptions Are Available?
Thankfully, there are several ways to reduce your property tax bill in Will County by accessing the property tax exemptions on offer.
Most of the exemptions use the term “homestead,” which means the property you own and use as your primary residence. The exemptions available in Will County are as follows:
- General homestead exemption
- Homestead improvement exemption
- Disabled persons’ homestead exemption
- Senior citizens’ homestead exemption
- Disabled veterans’ exemption
General Homestead Exemption
The general homestead exemption applies to all homeowners using their property as their primary residence and offers a $6,000 reduction in the EAV of the property.
Homestead Improvement Exemption
If you have improved your property or rebuilt it following a natural catastrophe, you may be eligible for this exemption, which amounts to a reduction of up to $75,000 in the fair market value of your home.
Disabled Persons’ Homestead Exemption
If you qualify for this exemption, your EAV is reduced by $2,000 per year.
Senior Citizens’ Homestead Exemption
If you are over 65, you may qualify for this exemption, which reduces your EAV by a maximum of $5,000.
Disabled Veterans’ Exemption
As a disabled veteran, you are eligible for a total property tax exemption if your property falls below an assessed value of $100,000. The surviving unremarried spouse of a disabled veteran may also be eligible, but the exemption must be applied for every year.
Can DoNotPay Help Me Reduce My Will County Property Tax Bill?
DoNotPay is an expert at finding property tax exemptions you are eligible for and helping you apply.
Our property tax guide can generate customized advice based on your location and circumstances and has two sections:
- Property tax exemptions, including what is available in your area, what documents you need, and where to apply
- Property assessment appeals, including how to negotiate with assessors and how to appeal an inflated assessment
How Can I Get DoNotPay’s Property Tax Guide?
Our guide is quick and easy to access by doing the following:
- Sign up for DoNotPay in your web browser
- Find the Property Tax feature
- Give us some basic information about yourself and your property
- Wait for the app to generate your tailor-made advice
What Other Advice Can DoNotPay Give Me?
There are a few other things you can do to reduce your property tax bill, mostly around ensuring your property assessment does not skyrocket. Here are some tips:
- Always check your property tax bill for inaccuracies
- Accompany the county assessor as your home is appraised
- Appeal your assessment if you feel it is unfair
An assessment appeal is a convoluted process, but DoNotPay can guide you with advice, information, and the documentation requirements to lodge a Will County property tax appeal.
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