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Lower Assessments May Not Lead To Lower Taxes

While a downward adjustment will help to align assessed values with the weak housing market, most homeowners in New Trier Township will experience little tax relief from the change. It is easy to assume that an assessment reduction would result in a tax reduction, but the property tax system does not work like the income or sales tax systems.The property tax system is more like a restaurant check you might split with friends getting together for an evening out. The restaurant doesn’t care how you divide the bill as long as it is paid in full. In the property tax system, towns, schools, and other taxing districts basically create the bill to be paid by all the property owners in the district. Taxes (your share of the bill) are then apportioned according to the value of your property. Since the Assessor does not have the power to alter the bill itself, his ability to reduce taxes for all homeowners is limited. In fact, when the value of property falls, the property tax rates usually rise since property owners, as a group, still must pay the full amount of the tax check. However, since commercial and industrial properties will not be eligible for the lower assessments, homeowners’ taxes could be reduced while commercial taxes could increase.

Back to Assessor's page click here or call 847-446-8200 for more information.


Township Calendar

Committee of the Whole Meeting
Event's details

January 23, 2018


07:30 PM - 10:00 PM
Location: New Trier Township Office, Winnetka, IL-60093

The meeting will be held in the Board Room of the Township Office.

 
January 23, 2018
Township Board Meeting
Event's details

February 13, 2018


07:30 PM - 10:00 PM
Location: New Trier Township Office, Winnetka, IL-60093

The November Township Board meeting has been changed from November 15 to November 29. The meeting will be held in the Board Room of the Township Office.

 
February 13, 2018
Office Closed - President's Day Observed
Event's details

February 19, 2018


All Day Event
Location: New Trier Township, Winnetka, IL-60093

The Township will re-open on Tuesday, February 20th, 2018.

 
February 19, 2018
Committee of the Whole Meeting
Event's details

February 27, 2018


07:30 PM - 10:00 PM
Location: New Trier Township Office, Winnetka, IL-60093

The meeting will be held in the Board Room of the Township Office.

 
February 27, 2018
Township Board of Trustees Meeting
Event's details

March 13, 2018


07:30 PM - 09:00 PM
Location: New Trier Township Office, Winnetka, IL-60093

The meeting will be held in the Board Room of the Township Office.

 
March 13, 2018
 

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