The Tax Pie
Over the years I have tried many ways to explain the assessment and taxation process. The analogy I keep coming back to is the tax pie. While nowhere near as delicious as grandma’s apple pie, we all must eat the tax pie.
The Size of the Tax Pie
Think of property taxes as the entire pie. The money each and all taxing bodies need to operate and provide services determines the size of the pie. Every dollar the taxing bodies spend must be paid by all taxpayers. With every dollar of increase in spending, the tax bills get bigger, and the tax pie gets bigger.
The Size of your Slice of Tax Pie
Think of your assessment as your slice of the tax pie. The higher your assessed value, the larger your slice of the pie. The tax pie is sliced into many pieces as each taxpayer’s slice is determined by their property’s value. Just like divvying up the pie among hungry relatives, the tax burden is distributed based on the number and value of all properties. If you have more parcels and more value, it's like having more family members at the table, each taking a smaller slice of the tax pie. Conversely, fewer parcels and less value means fewer "family members" to share the burden, resulting in larger slices of the tax pie for each.
Reality
The reality is the assessment and taxation process is more difficult than making an apple pie. There are many cooks in the kitchen, various departments and government agencies that determine your tax bill. My office as well as other offices attempt to make the process transparent and understandable. However, we realize it is not simple. My office is always available to answer questions and explain the process. We might even share a slice of pie with you.
Jeffrey A. Lee
Lake Villa Township Assessor
Phone: 847-356-2383 Email: Assessor@LakeVillaAssessor.org
Lake Villa Assessor Website: www.LVAssessor.org County Website: www.tax.LakeCountyIL.gov
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