Q: When are property taxes due for the current fiscal year?
A: Property taxes are typically due in two installments: June 1st and September 1st. If bills are mailed after May 1st, the first installment is due 30 days after the bill date.
Q: What homeowner tax credits are available and how do I apply?
A: The primary homeowner exemption reduces your equalized assessed value by up to $10,000, potentially saving $200-250 annually. This requires an application to the County Assessor's office and must be renewed annually. Additional exemptions may be available for seniors, veterans, and disabled persons, each requiring separate applications.
Q: How does the homestead exemption work?
A: The homestead exemption in Illinois caps annual assessment increases rather than reducing market value. Combined with the general homeowner exemption, it helps limit property tax growth. You must file an application with the County Assessor to receive this benefit.
Q: How often are properties reassessed in Woodford County?
A: Properties are typically reassessed every four years, though the County Assessor may conduct interim assessments for properties with significant changes or improvements.
Q: What are the penalties for late property tax payments?
A: Late payments incur interest charges and penalties. The first installment penalty is typically 1.5% per month, while the second installment carries similar penalties plus potential collection costs.
Q: Can I pay property taxes online?
A: Yes, Woodford County typically offers online payment options through the County Treasurer's website. Electronic payments may be subject to convenience fees.
Q: How do I appeal my property assessment?
A: Assessment appeals must be filed with the Woodford County Board of Review, typically within 30 days of receiving your assessment notice. The deadline is usually in late July or early August.
Q: Why did my taxes increase if I didn't make any improvements?
A: Tax increases can result from rising property values, new construction in your taxing districts increasing the total tax base, or voter-approved levy increases by local taxing bodies such as school districts or municipalities.
Q: What happens if I disagree with my tax bill?
A: If you believe there's an error in your tax bill, contact the County Treasurer's office immediately. For assessment disputes, you'll need to go through the formal appeal process with the Board of Review during the designated appeal period.
Q: Are there special exemptions for senior citizens or veterans?
A: Yes, Illinois offers a Senior Citizen Homestead Exemption for qualifying seniors and various veteran exemptions including the Disabled Veterans Standard Homestead Exemption. Each requires a separate application with specific eligibility requirements and deadlines.
