How to Figure the Tax Levy Extensions in Illinois
- 1). Calculate the tax rate for every taxing district in the county. This is done by taking the tax levy for the district and dividing it by the tax base. This is the assessed value of all of the taxable real property in the district.
- 2). Determine what taxing districts apply to your property and the corresponding rates. For most properties, they are subject to multiple property tax districts. For example, you could have property tax assessed based on your county, township, school district, community college, fire protection district, sanitary district and park district. Each district would have a different rate.
- 3). Add the rates for all of your districts together. To arrive at your property's tax rate, you add all of the individual district rates together.
- 4). Calculate your tax bill. Multiply the combined property tax rate you calculated and the assessed value of your property. This will provide you your tax bill.
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