The above represents a brief overview of the property tax process. The first is due June 1st the second is due September 1st. In DuPage County, tax bills are mailed at the beginning of May and are paid in two installments. Once tax rates are set, the Treasurer begins the collection process. The individual tax rates for each taxing body that serves your area form your overall tax rate you can see the elements of your tax rate listed on your tax bill. The County Clerk must calculate each taxing body's levy against its total Equalized Assessed Valuation (EAV) to derive the tax rate. Once each taxing body determines its budget and sets its levy, they file for their tax extension with the County Clerk. Additionally, new construction can be levied against at a different, higher rate than existing homes and businesses. Though the tax cap limits the amount of levy increases from year to year, local referendums can bypass these restrictions. These taxing bodies include school districts, park districts, municipalities (for incorporated areas), county (for unincorporated areas), and many others. Taxing district lines often cross each other and overlap your tax bill lists the taxing bodies who collectively provide services for your area of the Township. The funds from the levy form the budget of the taxing body for the upcoming year. Once the figures are factored by the Supervisor of Assessments and finalized by the Board of Review, the various taxing bodies begin the work of levying for their budgetary needs.Įach taxing body sets its levy against the total assessed valuations within its taxing district. The Assessor's work follows the assessment process each year and concludes with the closing of the books in the fall. However, the Assessor's Office merely values property based on market value and equity once the Assessor's books are closed, those values are used by taxing bodies to actually formulate your tax bill.

Many believe that the property tax process and the assessment process are one and the same.

Milton township property tax rate