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We once again saw a decrease in the assessed value for
properties in West Deerfield Township in 2010. Will the
decrease in assessments translate to a decrease in
taxes? The answer is most likely no. As more and more
taxpayers come to understand the role of the assessed
value in the property tax process, they begin to see
that the assessed value is simply a tool used to fairly
proportion the tax burden established by the taxing
bodies. If spending goes up, taxes go up even when
assessed values are declining.
Tax bills for 2011 will be sent from the Lake
County Treasurer's Office on May 3rd.
First installment is due June 6th.
Second installment is due September 6th.
Information Your Tax Bill Contains
Obviously the first item a taxpayer looks for on the
property tax bill is the amount of taxes due. I would
like to encourage everyone to take a moment and review
the entire tax bill. I understand we are all busy and
the amount payable and when it is due is the utmost
concern, however, it is important to review the other
information provided in the tax bill.
Exemptions that you qualified for in that tax year are
included and each year one should verify that they are
included in their current tax bill.
A list of taxing bodies, their tax rates, the amount
they receive from your tax bill and the change in the
amount they received from the prior year are also
included.
When filing your 2010 income tax return, the pin number
or parcel identification number is often times
requested. That is also available on your tax bill.
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Property Tax Exemptions
Please check your tax bill in May
when it is delivered to make sure you have all the
exemptions that you qualify for:
General Homestead
is a $6,000 reduction in the assessed
value of your property, if that property is your primary
residence on or before January 1 of that tax year.
Senior Homestead Exemption
is a $4,000 reduction in the assessed
value of your property the tax year you turn 65 years of
age on your primary residence.
Senior Assessment Freeze
This exemption freezes the assessment
on your property if the total household income is
$55,000 or less. This is an exemption that must be
renewed each year.
Senior Deferral
is a state loan with a simple
interest of 6%. Repayment of this loan is due upon death
or sale of house. To qualify, one must be 65 years of
age as of June 1st of the tax year, have a household
income under $50,000, must have proof of insurance,
property taxes must be current, and the property must be
your primary residence.
Disabled Persons' Homestead
Exemption
is a $2,000 reduction on the assessed
value of the primary residence.
Disabled Veteran's Exemption, Returning Veteran's
Exemptions and Home Improvement Exemptions
are also available.
Please contact the West Deerfield
Township Assessor's Office at 847.945.3020 with
questions, for an application, and a list of required
documentation.
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