Example of Lasalle County Property Tax Calculation
Lasalle County Property Tax calculation can be easily understood. First, the county assessor determines the value of the property. Then, the tax rate is applied to the assessed value of the property. The tax rate is determined by the local government, which includes the county, city, school district, and other special districts.
For example, if the assessed value of a property is $100,000 and the tax rate is 2%, the annual property tax will be $2,000. This amount is then divided into two installments, due on June 1st and September 1st.
It is important to note that property taxes can vary depending on the location of the property and any exemptions or deductions the property owner may be eligible for. Property owners can contact the Lasalle County Assessor's office for more information on their specific property tax calculation.
If you want appeal your property tax assessment - contact your local tax assessor.
Lasalle County Property Tax Rates
Lasalle County Property Tax Rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $1.0100 |
| Township | $0.1000 - $1.5000 |
| Municipality | Varies by Location |
The county property tax rate in Lasalle County is $1.0100 per $100 of assessed value. Township property tax rates range from $0.1000 to $1.5000 per $100 of assessed value, depending on the specific township. Municipality property tax rates vary by location within Lasalle County. It's important to note that property tax rates are subject to change and homeowners should check with their local government for the most up-to-date information.
Who sets property tax rates in Lasalle County ?
Lasalle County property tax rates are set by the county’s Board of Commissioners. The Board is responsible for determining the tax levy, which is then used to calculate the property tax rate for each individual property in the county. This process typically occurs annually, with the Board holding public meetings to review and approve the tax levy.
Here’s a breakdown of the key details about Lasalle County property taxes:
| Who sets the property tax rates? | The Lasalle County Board of Commissioners |
|---|---|
| How often are the rates set? | Annually |
| What is the tax levy? | The total amount of funding required by the county to operate and provide services |
| How is the tax rate calculated? | The tax levy is divided by the total value of all taxable property in the county |
| Are there any exemptions or deductions available? | Yes, there are a variety of exemptions and deductions available depending on the property and the owner’s circumstances |
It’s important for property owners in Lasalle County to stay informed about the tax rates and any changes that may occur from year to year. Working with a knowledgeable tax advisor can help ensure that you are properly prepared and taking advantage of any available exemptions or deductions.
Homestead exemptions in Lasalle County ?
To help homeowners in Lasalle County, Illinois navigate the complex world of property taxes, we have created a comprehensive table detailing all county-specific Homestead exemptions and deductions.
Lasalle County Homestead Exemptions and Deductions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners | $6,000 | Reduces the equalized assessed value (EAV) of a primary residence |
| Senior Citizen Homestead Exemption | Homeowners over the age of 65 | Additional $5,000 | Can be combined with the General Homestead Exemption |
| Senior Citizen Assessment Freeze Homestead Exemption | Homeowners over the age of 65 | Freezes the EAV of a primary residence | Must have a maximum household income of $65,000 |
| Homestead Improvement Exemption | Homeowners making improvements to their primary residence | Up to $25,000 | Covers the increase in EAV due to home improvements |
| Disabled Veterans’ Homestead Exemption | Veterans with a service-related disability | $2,500 to $5,000 | Amount depends on the level of disability |
| Returning Veterans’ Homestead Exemption | Veterans who served in Afghanistan or Iraq | $5,000 | Can be used for up to two years after returning from service |
Note: Homeowners can only receive one General Homestead Exemption and one Senior Citizen Homestead Exemption per household.
In addition to these Homestead exemptions, Lasalle County also offers the following deductions:
- Disabled Persons’ Homestead Deduction - Homeowners with a disability can receive a $2,000 deduction on their EAV.
- Natural Disaster Homestead Deduction - Homeowners who experienced property damage due to a natural disaster can receive a $750 deduction on their EAV.
It is important for homeowners to understand their eligibility for these exemptions and deductions to ensure they are receiving the maximum tax benefits available to them. For more information or to apply for these exemptions, contact the Lasalle County Assessor's Office.
When is Lasalle County Property Tax due ?
Lasalle County Property Tax Due Date and Payment Methods
Lasalle County Property Tax is typically due on June 1st of each year. However, taxpayers have the option to pay in two installments. The first half of the property tax is due on June 1st, and the second half is due on September 1st.
There are several payment methods available for Lasalle County Property Tax. Taxpayers can choose to pay by mail, in person, or online. For in-person payments, taxpayers can visit the Lasalle County Treasurer's Office during business hours. The office is open from 8:00 am to 4:30 pm, Monday through Friday.
For mail payments, taxpayers can send their check or money order to the Lasalle County Treasurer's Office. The mailing address can be found on the property tax bill. Taxpayers should make sure to include the payment stub with their check or money order.
Online payments can be made through the Lasalle County Treasurer's website. Taxpayers can pay with a credit card or electronic check. There is a convenience fee for using this service.
In summary, Lasalle County Property Tax is typically due on June 1st, but can be paid in two installments. Taxpayers can pay by mail, in person, or online.
If you have more questions - contact your local tax collector.
How is Lasalle County Property Tax penalty calculated ?
Lasalle County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, they may incur a penalty charge. The penalty charge is calculated based on the amount of taxes owed and the number of days the payment is late. Here is how Lasalle County calculates the property tax penalty:
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Determine the amount of taxes owed: The first step in calculating the penalty is to determine how much the property owner owes in property taxes. This amount is typically listed on the property owner's tax bill.
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Determine the number of days late: The next step is to determine the number of days that the payment is late. Property taxes in Lasalle County are due on June 1st of each year. If the payment is not received by September 1st, it is considered late.
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Calculate penalty charge: The penalty charge is calculated at a rate of 1.5% per month, or 18% per year, on the unpaid balance. This means that for every month that the payment is late, the property owner will be charged an additional 1.5% of the unpaid balance.
Example:
John owns a property in Lasalle County and owes $10,000 in property taxes for the year 2020. He failed to make the payment by the due date of June 1st and did not pay until October 1st. This means that he is 3 months late.
To calculate the penalty charge, we can use the following formula:
Penalty charge = (Amount owed x Penalty rate x Number of months late)
Penalty charge = ($10,000 x 0.015 x 3) = $450
Therefore, John will be charged a penalty fee of $450 for being 3 months late on his property tax payment.
In conclusion, it is important for property owners in Lasalle County to pay their property taxes on time to avoid incurring penalty charges. The penalty charge is calculated based on the amount owed and the number of days late, and is charged at a rate of 1.5% per month.
We recommend contacting the Lasalle County Tax Office or a local tax professional for the most up-to-date and accurate information.