Understanding Your Property Tax Bill

Through property taxes, citizens pay for many of the services and amenities they enjoy in their communities, from police and fire protection to teacher salaries, park district programs and library services.

In general, the property tax you pay relates to the value of any property you own (whether it’s residential, commercial or industrial). If you take a look at your property tax bill, you’ll see that you pay different amounts to different taxing districts (including your school districts, the Village, your local community college and more.) However, it’s not as simple as that. The way that property taxes are calculated — and the reasons they go up (or down) each year are complicated. Find out more about who calculates your taxes, how it's done, and the variables that impact your bill.