Wayne Township Assessor's Office

150 Years

2010 Tax Bills

The DuPage County Collector mailed the 2010 tax bills (payable 2011) on April 30, 2011.

Many property owners expected their property taxes to decrease due to the declining real estate market; however, declining assessments, without decreases in spending by taxing bodies, resulted in higher tax rates. When taxing districts increase their levies, as they tend to do each year, tax rates increase even more.

Although property assessments decreased for 2010, most property owners across DuPage County saw their tax bills increase, averaging about 4.55%, because the taxing districts increased their levies.

Because we are required to assess properties based on sales from the three previous years (2007, 2008 and 2009), the Fair Cash Value listed on your tax bill may seem higher than what you believe your property would sell for in today’s market. Although most assessments will continue to decrease until the market turns around, each year’s assessments will tend to be slightly higher than current market values, (just as assessments tended to be below the most current sale prices during the years when the market was rapidly increasing!) Again, if assessments were reduced more quickly to match today’s sale prices, tax rates would increase just as quickly, resulting in the same tax bill amounts.

Senior Assessment Freeze Exemption Recipients

Most recipients of the Senior Citizens Assessment Freeze Exemption actually saw their tax bills increase for 2010, compared to other property owners. When this exemption was created, the legislature did not anticipate an extended market downturn and declining assessments.

As I noted earlier, tax rates increased for 2010. Assessments went down; therefore, the amounts of most recipients’ Freeze Exemptions decreased, while the base year assessments remained unchanged. The same base year assessments, multiplied by the higher tax rates, have resulted in the increased tax bills.

As assessments continue to decrease, many Senior Freeze Exemption recipients will see their assessments fall back to, or below, their base year levels, meaning that their exemption amounts will be zero, and their taxes will be the same as property owners who do not receive the Freeze Exemption.

When assessments begin increasing again, the base year assessments will be frozen at the lowest levels the assessments have reached. Therefore, it is important to continue to apply for this exemption each year.