FAQ Topic: Property Tax

What kind of exemptions are there and how do I qualify for them?

To qualify for exemptions on your property you must be the owner of record and it must be your primary residence. You must be 65 for the senior exemptions. Remember, only Cook County requires you to reapply for the Senior Homestead Exemption every year. A list of exemptions are available on our Exemption Information page and … Continued

What information can I find on my tax bill?

When you receive your tax bill it is important to go over this information as well. Other than the amount of taxes due, you will be able to see both the market and assessed value of your property, the exemptions that you currently have as well as the amount of each exemption, your taxable value, … Continued

Where do my tax dollars go?

Governments are all trying to cut spending and find additional sources of revenue to provide their service. Most local taxing bodies rely heavily on the revenue from property taxes to fund their services. However, the cost of these services keeps increasing requiring more money from property taxes. When a taxing body asks for more money … Continued

If my assessment goes down will my tax bill go down?

Contrary to popular belief, your assessment does not determine your taxes. The main purpose of assessing property is to fairly distribute the tax burden according to your property’s value. Generally tax bills are going up as a result of increased spending by taxing bodies. So, if government spending and the “levy” requests do not decrease, … Continued

What If the Assessor has incorrect information on my property?

You can check your property characteristics at any time during the year at IMSLake.org. If you notice that there is incorrect information, please call our office and let us know. We can then set up an appointment for a field person to come out and verify the changes.

Close window