Example of Kankakee County Property Tax Calculation
When calculating Kankakee County property tax, the assessed value of the property is multiplied by the county's tax rate. For example, if a property is assessed at $100,000 and the tax rate is 2%, the property owner would owe $2,000 in property taxes.
It is important to note that the assessed value of the property is determined by the Kankakee County Assessor's Office and is based on the fair market value of the property. The tax rate is set by the Kankakee County Board and is applied to the assessed value of the property.
Property owners can reduce their property tax bill by taking advantage of exemptions and deductions, such as the homestead exemption for primary residences and the senior citizen assessment freeze. It is recommended that property owners consult with a tax professional or the Kankakee County Assessor's Office for more information on available exemptions and deductions.
If you want appeal your property tax assessment - contact your local tax assessor.
Kankakee County Property Tax Rates
The following table displays the Kankakee County Property Tax rates for the year 2021 in a clear and concise format:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.815 |
| City of Kankakee | $1.13 |
| Village of Bourbonnais | $0.782 |
| Village of Bradley | $0.862 |
| Village of Manteno | $1.045 |
It is important to note that property tax rates may vary depending on the specific location and assessed value of the property in question. As a tax advisor, it is recommended to consult with the relevant authorities and seek professional guidance when dealing with property tax matters.
Who sets property tax rates in Kankakee County ?
In Kankakee County, property tax rates are set by the County Board. The County Board reviews the proposed tax levies from various taxing districts such as schools, libraries, and municipalities, and determines the final tax rate. Property tax rates are typically reviewed annually and are subject to change based on the needs of the community. It's important for Kankakee County property owners to stay informed about property tax rates and any changes that may affect their taxes.
When is Kankakee County Property Tax due ?
In Kankakee County, property tax payments are typically due twice a year. The first installment is due on June 1st and the second installment is due on September 1st.
There are several methods available for making property tax payments in Kankakee County. These include:
| Payment Method | Details |
|---|---|
| In person | Payments can be made in person at the Treasurer's Office located at 189 E Court St, Kankakee, IL 60901. Cash, check, and credit card payments are accepted. |
| By mail | Payments can be mailed to the Treasurer's Office at PO Box 428, Kankakee, IL 60901. Payments must be postmarked by the due date to avoid penalties. |
| Online | Payments can be made online through the Kankakee County Treasurer's website. Credit card and e-check payments are accepted. |
It is important to note that late payments will result in penalties and interest charges being added to the tax bill. Therefore, it is recommended that payments be made on or before the due date to avoid any additional fees.
If you have more questions - contact your local tax collector.
Homestead exemptions in Kankakee County ?
Creating a table with columns for "exemption," "eligibility," "amount," and "notes" is an effective way to present all county-specific Homestead exemptions and deductions in Kankakee County, Illinois. This allows for easy comparison and understanding of the benefits available to homeowners in the area.
The following are some of the Homestead exemptions and deductions available in Kankakee County:
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied primary residence | Up to $6,000 | Reduces taxable value of property |
| Senior Citizen Homestead Exemption | Owner-occupied primary residence, 65+ years old | Up to $5,000 | Reduces taxable value of property |
| Disabled Veterans' Homestead Exemption | Owner-occupied primary residence, veteran with disability | Up to $100,000 | Reduces taxable value of property |
| Home Improvement Exemption | Homeowner making improvement to primary residence | Up to $75,000 | Reduces taxable value of added improvements |
| Disabled Persons' Homestead Exemption | Owner-occupied primary residence, person with disability | Up to $2,000 | Reduces taxable value of property |
| Returning Veterans' Homestead Exemption | Owner-occupied primary residence, veteran who recently returned from active duty | Up to $5,000 | Reduces taxable value of property |
It's important to note that some of these exemptions and deductions have additional requirements, such as income limits or specific types of disabilities. Homeowners in Kankakee County should consult with their local tax assessor's office to ensure they meet all eligibility criteria and properly apply for any exemptions or deductions they may be entitled to receive.
How is Kankakee County Property Tax penalty calculated ?
Kankakee County calculates property tax penalties based on a specific formula. Here is a breakdown of how it works:
Calculation of Penalty
Kankakee County property taxes are typically due in two installments: the first half is due on June 1st, and the second half is due on September 1st. If the payment is not received by the due date, a penalty will be added to the amount owed. The penalty is calculated based on the following:
- Late Payment Penalty: A 1.5% penalty will be added to the unpaid balance if the payment is received after the due date.
- Monthly Interest Charge: In addition to the late payment penalty, there is also an interest charge of 1.5% per month (or 18% annually) on the unpaid balance. This monthly interest charge will be added to the unpaid balance each month until the balance is paid in full.
Example
Let's say a property owner owes $10,000 in property taxes for the first installment due on June 1st. If the payment is not received until August 15th, the penalty and interest charges would be calculated as follows:
- Late Payment Penalty: $150 (1.5% of $10,000)
- Monthly Interest Charge: $225 (1.5% of $10,000 for June, July, and August)
The total penalty and interest charges for the late payment would be $375 ($150 + $225). This would be added to the original balance of $10,000, bringing the total amount owed to $10,375.
It's important to note that if the property taxes are not paid by the second due date of September 1st, the penalty and interest charges will continue to accrue each month until the balance is paid in full.
We recommend contacting the Kankakee County Tax Office or a local tax professional for the most up-to-date and accurate information.