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Law Office of Dennis M. Nolan, P.C.

Law Office of Dennis M. Nolan, P.C.Law Office of Dennis M. Nolan, P.C.Law Office of Dennis M. Nolan, P.C.

Law Office of Dennis M. Nolan, P.C.

Law Office of Dennis M. Nolan, P.C.Law Office of Dennis M. Nolan, P.C.Law Office of Dennis M. Nolan, P.C.
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    • Home
    • About Us
    • Property Taxes 101
    • Real Estate Transactions
    • FAQ's
    • Contact Us
  • Home
  • About Us
  • Property Taxes 101
  • Real Estate Transactions
  • FAQ's
  • Contact Us

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

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