A township is a political and geographic subdivision of a county and state. It is a municipal corporate body that can own property, borrow money and levy taxes in accordance with state statutes. A township’s elected officials may act for the electorate in the township’s name when conducting business.

Tazewell County is divided into 19 townships. Generally, there are eight officials in each township, elected for terms of four years; Supervisor, Clerk, Assessor, Highway Commissioner and four Trustees. The annual meeting of the township electors is held on the second Tuesday in April.

Townships have many duties and some permissive powers. Services which are expressly required of all townships include providing for general assistance, building and maintaining rural roads, and assessing real property. In addition, townships may establish libraries, medical clinics, museums, community buildings, recreation districts, mental health facilities, cemeteries and youth committees.

The Township Assessor might more accurately be called an appraiser. The Assessor does not levy a tax, but rather places a value on (assesses) all property based upon available market data.

The County Clerk compiles a list of all lands and lots to be assessed, including those which are taxable, or which have become taxable for the first time. These lists are conveyed to the Township Assessor through the office of the Supervisor of Assessments.

The Assessor must then determine the fair cash value of all taxable property and then assess that property at one-third of its fair cash value. Township Assessors use the same principles, techniques and methodologies as those employed by fee appraisers with only slight variations to accommodate the uniformity criteria of the statutes. The ultimate purpose of the assessed value is to proportion the tax burden, as established by the taxing bodies, over all property in a fair and equitable manner based on the value of the real estate.

Under Illinois law, several programs designed to provide property tax relief are available to homeowners. It is the hope of the Morton Township Assessor’s Office that the following information will familiarize you with these programs and answer some of the frequently asked questions. If there should be other questions, please contact our office.

Ad Valorem

According to value.

Assessed Value

The value placed upon property after multiplying the fair cash value by the legal level of assessment.

Assessment

The official act of discovering, listing and appraising property for ad valorem tax purposes.

Assessment Level

The percentage of full value at which property is assessed as mandated by state law – currently 33.33%.

Assessor

The government official responsible for estimating the value of property for ad valorem tax purposes.

Board of Review

A panel of three residents of a county appointed to review complaints that are filed by individual taxpayers. The Board of Review has specific statutory responsibilities to perform during a designated period of time.

Equalization

The process of providing uniform aggregate assessments between townships and counties (see multiplier).

Equalized Value

The assessed value multiplied by the county and/or state multiplier. This calculation gives the value of the property to which the tax rate is applied.

Extension

This term is used in two different contexts: 1) The process in which the County Clerk determines the tax rate needed to raise the revenue certified to the Clerk by each taxing body in the county; and 2) The actual dollar amount of revenue resulting from the tax rate when it is multiplied by the assessed value of a district.

Fair Cash Value

The amount for which a property can be sold in the due course of business and trade, not under duress, between a willing buyer and a willing seller.

Improvement

Any structure, addition or other product of labor which is attached, lying upon or within the land that may not be removed without physical stress.

Levy

The amount of money that a taxing body requires to be collected through the property tax system.

Mass Appraisal

The process of valuing a universe of properties as of a given date, in a uniform order, utilizing standard methodology, employing a common reference for data, and allowing for statistical testing.

Multiplier

A figure used by county and state officials and applied uniformly to all parcels within a township to “equalize” assessments between townships and counties so that all values reflect the same assessment level.

Permanent Index Number

A 12-digit number used to identify property for tax purposes. This number is used in place of lengthy legal descriptions.

Property Tax Appeal Board (PTAB)

A state-level panel of five residents, experienced in assessment appeals, who review complaints by property owners who are unsatisfied with decisions rendered by the Board of Review.

Quadrennial Reassessment

The assessment that takes place every four years during which the Township Assessor must revalue property based on the previous three year’s sales activity.

Taxing Body

An organization or government body having the statutory right to fund itself through the property tax system. Examples include schools, park districts, villages, fire protection districts and townships.

Tax Rate

A percentage applied to each taxing body’s assessed valuation which will produce the amount levied by that taxing body, or, in other words, the levy divided by the assessed value equals the tax rate. The tax rate is expressed in terms of “dollars per $100 of assessed value”.

Taxing District

The geographic area whose boundaries define the taxing jurisdiction for a group of taxing bodies.

Eligibility requirements vary widely among these programs so you should review each program’s qualifications carefully. The staff in the Township Assessor’s office will be happy to provide additional information if needed. We encourage you to contact us if you have any questions about these programs. Exemptions reduce the equalized assessed valuation on the property prior to the calculation of real estate taxes due. Exemptions are only available on residential properties used as a primary residence. They are not available for commercial, industrial, second homes, rental or vacant properties.

This exemption is limited to your primary residence and lowers the equalized assessed value of your property by $6,000. To receive this exemption, you must:

• Have lived on the property on or before January 1st of the assessment year.
• The Township Assessor’s office initiates this exemption.

This exemption defers, up to four years, any increase in the assessment of your property due to an addition or other improvement to your home for which the Township Assessor would change the value.

• A maximum of $25,000 of assessed value may be may deferred under this program.
• The Township Assessor’s office initiates this exemption.

This exemption lowers the equalized assessed value of your property by $5,000. This exemption may be claimed in addition to the General Homestead Exemption. To receive this exemption you must:

• Have one owner of record reach the age of 65 during the assessment year.
• Apply for the exemption at the Township Assessor or Supervisor of Assessments office. You must bring identification that includes proof of age and a copy of the recorded deed.
• If the property is held in a trust you must also bring a copy of the trust to show you have an ownership in the property.

This exemption freezes the assessment on your property, but does not freeze the tax rate. This exemption may be claimed in addition to those described above. You must understand that the actual taxes which you pay may continue to increase based upon the increased levies by the taxing bodies where you reside (school districts, park district, village, township, etc).

The filing deadline for this exemption is July 1st of the assessment year. To receive this exemption, you must:

• Have fulfilled a property residency requirement as explained on the application form.
• Be age 65 or older.
• Have a maximum household income (gross) of $65,000 including Social Security and Medicare. This household income includes any income for all persons using the home as their primary residence on January 1st of the assessment year.
• Obtain an application for this exemption from either the Township Assessor or the Supervisor of Assessments Office in Pekin. The completed exemption must be signed, notarized and returned to:
  Supervisor of Assessments
  11 South 4th Street
  McKenzie Building, Suite 410
  Pekin, IL 61554-4206
• Please note, because your income could change from year-to-year you must reapply every year to continue to qualify for the exemption.