How Changes in Valuation Affect Tax Bill (Cook County)

Cook County Example

$300,000.00           Valuation            $500,000.00

         x 25 %   Level of Assessment            x 25%

   75,000.00     Assessed Valuation    125,000.00

     x 2.9627  State Equalization Factor   x 2.9786

 223,395.00     Equalized Valuation    372,325.00

         -  (0)              Exemptions                   - (0)

                                Adjusted

 223,395.00     Equalized Valuation     372,325.00

      x 9.35%            Tax Rate                     x 9.35%

 $20,887.43        Amount of Tax           $34,812.39

Cook County Seal

Cook County Seal

Collar County Example

 

$300,000.00           Valuation            $500,000.00
   x   33.33%   Level of Assessment       x 33.33%
  99,990.00     Assessed Valuation    166,650.00
        -  (0)              Exemptions                   - (0)
  99,990.00     Adjusted  Valuation     166,650.00
     x 9.35%            Tax Rate                    x 9.35%
 $9,349.07         Amount of Tax         $15,581.78

State of Illinois Seal

State of Illinois Seal