Each year the State of Illinois Department of Revenue conducts a Sales Ratio Study in order to determine whether or not the assessed values of properties within each township in Sangamon County, (and all IL counties), are at the statutory level of 33.33%, or 1/3 of fair market value.
If the study shows a township's median level of assessment to be above or below the statutory level of 33.33%, or 1/3 of market value, then an equalization factor, or multiplier, should be applied. This factor will either increase or decrease your property's assessed value.
At this time the Board of Review has two options.
- A single state issued countywide multiplier, which only impacts the property's assessed value for one year. This type of equalization can not be appealed, and does nothing to improve the median level of assessment for your township.
- A Board of Review issued township multiplier, which may be appealed to the State of Illinois Property Tax Appeal Board, and does improve your township's median level of assessment. The township multipliers are more equitable on a township-by-township basis than the single state issued countywide factor.
Before deciding to appeal, you need to know two things.
- What is the Fair Market Value of your property? This can be determined by a recent purchase price or appraisal of your property, or by recent sales of comparable properties within your neighborhood.
- What are the assessed values of comparable properties within your neighborhood? Comparable properties being ones that are similar to yours in construction style, size, and age.
Information on sales may be obtained from the M.L.S., (Multiple Listing Service), or your local Realtors. Information to determine which properties are comparable, and what their assessments are is available at your local township assessor’s office. If you’re not able to meet with your assessor, the Supervisor of Assessment’s office does have the assessed values for all properties in your township, and our web address is: SangamonIL.Gov
WHEN & HOW...
If you have evidence indicating that your property’s assessed value is greater than 33.33% of it’s fair market value, or above the median level of assessment for the county, you may appeal to the State of Illinois Property Tax Appeal Board within 30, (thirty), days of the date printed on the township multiplier assessment change notice.
* IF YOU DID FILE A COMPLAINT WITH THE 2019 SANGAMON COUNTY BOARD OF REVIEW, THE PROPERTY TAX APPEAL BOARD HAS JURISDICTION TO CHANGE YOUR PROPERTY’S ENTIRE ASSESSED VALUE.
* IF YOU DID NOT FILE A COMPLAINT WITH THE 2019 SANGAMON COUNTY BOARD OF REVIEW, THEN THE PROPERTY TAX APPEAL BOARD’S JURISDICTION IS LIMITED TO THE REMOVAL OF THE AMOUNT OF INCREASE IN ASSESSED VALUE DUE ONLY TO THE TOWNSHIP MULTIPLIER.
If you did not file with the Sangamon County Board of Review, and removal of the multiplier by the Property Tax Appeal Board will still leave your assessed value at a level greater than 33.33%, (1/3), of fair market value, please contact your township assessor. While the Property Tax Appeal Board may do nothing else for the 2019 pay 2020 tax year, you may request that the assessor verify his/her information to assure accuracy in their records. The assessor may wish to visit your property, and may possibly reassess its value for the taxes payable in 2021.
If you are not satisfied with the actions of the township assessor, you may file a complaint with the 2020 Sangamon County Board of Review beginning July 1 and up to 30, (thirty), days after the date of the newspaper publication of the township assessor’s changes for the 2020 assessment year, whichever is later. This action would not change your taxes payable in 2020, but if the Board of Review renders a favorable decision it would affect the property taxes payable in 2021.
If you are not satisfied with the decision of the Board of Review, you may appeal their decision to the Property Tax Appeal Board within 30, (thirty), days of the date of the newspaper publication of the Board of Review assessment changes. The decisions of the Property Tax Appeal Board are subject to administrative review in the Circuit or Appellate Court, if the property owner so desires.
Of course there are many different scenarios that may relate to your individual property; these guidelines are offered only as basic information to help improve your understanding of the property tax system. If you have any additional concerns or questions, please feel free to contact our office by calling 753-6805, or by visiting Room 210 in the County Building. Our office hours are Monday through Friday, 8:30 A.M. to 5:00 P.M., (Except for legal holidays when the County Building is closed.).
PTAB appeal forms are available on the following web site: