Wayne township Assessor's Office
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2014 Assessments

Posted 9/08/2014

My staff and I have completed the 2014 assessments.  The equalization notice will be published in the Examiner newspapers on September 17, 2014.  The final date to file an assessment appeal for 2014 is October 17, 2014.  The new assessed values will also be posted at www.waynetownshipassessor.com the week of September 17th. 

If you recently purchased your property and have received letters from attorneys or consultants offering to represent you in an assessment appeal, please call my office before signing any agreement with them.  If a reduction is warranted based on the purchase price, you should not have to pay a portion of your tax savings to a third party. 

Although the real estate market in our area improved in 2013 and 2014, for the fifth consecutive year, assessed values in Wayne Township were reduced.  If this improvement in the market continues, assessments will likely begin to increase again in 2015 or 2016.

As required by state statute, assessments each year are based on sales that occurred during the previous three years.  For 2014, the assessments in Wayne Township received a .9766 equalization factor, meaning that assessments went down 2.34%.  Your assessment, multiplied by three, indicates the estimated market value of your property as of January 1, 2014, based on sales that occurred between 2011 and 2013.  Please call my office at (630)231-8900 if you have questions about your 2014 assessed value.

Assessed values and tax rates have an inverse relationship.  In the absence of any spending increases by taxing districts, assessment increases result in tax rate decreases, and taxes remain unchanged.  If assessments decrease, tax rates increase, and again, taxes are unchanged. 

When taxing bodies increase their levies, taxes are increased, regardless of whether assessments have gone up or down.  The overall level of taxation cannot be controlled through assessments, because the tax rate will automatically adjust to ensure that the taxing bodies collect the dollars to which they are legally entitled under Illinois statute.  It is the responsibility of the County Clerk to determine the amount each taxing body may collect each year. 

As always, I am also available to speak to a meeting of your Homeowners Association, club or community organization upon request.  Please call my office at (630)231-8900 to schedule a speaking engagement.
           



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