Elmwood Assessor Notes

Elmwood Township Assessor's Page

Send me an email if you have an assessment question. Click link at bottom of column.

New Interactive Information System from Peoria County GIS

Peoria County GIS

Front Desk Instructions PDF

Front desk application: Link to GIS System

Peoria County's Web Site can answer many questions.

Link to Supervisor of Assessments Office

Link to Property Records Look Up

Link to Downloadable Forms

As a general rule property assessments are to be an estimate of what a property would sell for in a fair and open market of property. This is why residential properties are listed at fair market value. The Equalized Assessed Value or EAV is the one third value of the fair market estimate. The tax rate is applied to this value to determine the actual tax bill. Properties are assessed based on their conditions as of January 1 of each year. Tax bills payable in June and September are based on the previous year's assessment.

The web site is a great way to check on your assessment and which exemptions that are applied to your property. If you are eligible for one of the following exemptions check to see if they are in effect.

There are exceptions or Exemptions:

Actually it still goes back to the Fair Market Value, but the State of Illinois has made certain exemptions for home owners.

Any homeowner is entitled to a reduction in their EAV on their primary residence.

General Homestead Exemption (GHE) $6000

Any homeowner who is also over 65 years of age has an additional exemption.

Senior Citizens Homestead Exemption $5000

Homestead Improvement Exemption
This exemption is limited to the fair cash value that was added to the homestead property by a new improvement, or the difference in an increase in assessed value between the prior structure and a rebuilt residential structure following a catastrophic event, up to an annual maximum of $75,000. The exemption continues for four years from the date the improvement is completed and occupied.

The Homestead Improvement Exemption may be granted automatically or Form PTAX-323, Application for Homestead Improvement Exemption may be required by the chief county assessment office.

Senior Citizens Assessment Freeze Homestead Exemption (SCAFHE)

This exemption allows senior citizens who have a total household maximum income of less than $55,000, and meet certain other qualifications to elect to maintain the equalized assessed value (EAV) of their homes at the base year EAV and prevent any increase in that value due to inflation.

Each year applicants must file Form PTAX-340, Senior Citizens Assessment Freeze Homestead Exemption Application and Affidavit, with the chief county assessment office.

Returning Veterans’ Homestead Exemption
This exemption is a one-time $5,000 reduction in EAV on the principal residence of a veteran upon returning from active duty in an armed conflict involving the armed forces of the United States. Although the exemption is only for a single year, a qualifying veteran can receive the exemption for another tax year in which he or she returns from active duty. Applicants must file Form PTAX-341, Application for Returning Veterans’ Homestead Exemption, with the chief county assessment office.

Disabled Persons’ Homestead Exemption
This exemption is an annual $2,000 reduction in EAV of the primary residence that is owned and occupied by a disabled person who is liable for the payment of property taxes. Initial application Form PTAX-343 Application for Disabled Persons’ Homestead Exemption along with the required proof of disability must be filed with the chief county assessment office.

The exemption, must be renewed each year by filing the Form PTAX-343-R, Annual Verification of Eligibility for Disabled Persons’ Homestead Exemption, with the Chief County Assessment Office. For a single tax year, the property cannot receive this exemption and the Disabled Veterans’ Homestead Exemption or Disabled Veterans’ Standard Homestead Exemption.

Disabled Veterans’ Homestead Exemption
This exemption may be up to $70,000 of the assessed value for certain types of housing owned and used by a disabled veteran or his or her unmarried surviving spouse. The Illinois Department of Veterans’ Affairs determines the eligibility for this exemption, which must be reestablished annually. This exemption is also available on a mobile home owned and used exclusively by a disabled veteran or their spouse. For a single tax year, the property cannot receive this exemption and the Disabled Persons’ Homestead Exemption or Disabled Veterans’ Standard Homestead Exemption.

Disabled Veterans’ Standard Homestead Exemption
This exemption is an annual reduction in EAV on the primary residence occupied by a qualified disabled veteran. The disabled veteran must own or lease a single family residence and be liable for the payment of property taxes. The amount of the exemption depends on the percentage of the service-connected disability as certified by the U. S. Dept. of Veterans’ Affairs. A disabled veteran with a disability of at least 50%, but less than 75% will receive a $2,500 reduction in EAV. A disabled veteran with a disability of at least 75% will receive a $5,000 reduction in EAV.

Initial application Form PTAX-342 Application for Disabled Veterans’ Standard Homestead Exemption must be filed with the chief county assessment office. The Form PTAX-342-R, Annual Verification of Eligibility for Disabled Veterans’ Standard Homestead Exemption must be filed each year to continue to receive the exemption. For a single tax year, the property cannot receive this exemption and the Disabled Persons’ Homestead Exemption or Disabled Veterans’ Homestead Exemption. For more information contact the Chief County Assessment Office.

The final review of assessments at the county level is the Board of Review. They have a useful web site here is the link.

Peoria County Board of Review

Farm Land Definition

Farmland assessment applies to tracts of farm property that have met the definition of a farm for the previous two years. To be a farm, a tract's sole use must be farm as defined under 35 ILCS (Illinois Complied Statutes) 200/1-60 (formerly Chapter 120, par. 482). The law does not apply to parcels that are primarily used for residential purposes. Farmland in Illinois is assessed for property tax purposes on the basis of its agricultural economic value. This value, commonly referred to as use-value, is based upon land use under average level management, relative productivity of soils, and the present worth of the net income accruing to the land from farm production. Farm buildings are assessed at one-third of their contributory value to the farm and are not subject to state equalization factors. Farm home sites and dwellings are to be assessed like non- farmland at 33 1/3 percent of market value and are subject to state equalization factors.

Sec. 1-60. Farm. When used in connection with valuing land and buildings for an agricultural use, any property used solely for the growing and harvesting of crops; for the feeding, breeding and management of livestock; for dairying or for any other agricultural or horticultural use or combination thereof; including, but not limited to, hay, grain, fruit, truck or vegetable crops, floriculture, mushroom growing, plant or tree nurseries, orchards, forestry, sod farming and greenhouses; the keeping, raising and feeding of livestock or poultry, including dairying, poultry, swine, sheep, beef cattle, ponies or horses, fur farming, bees, fish and wildlife farming. The dwellings and parcels of property on which farm dwellings are immediately situated shall be assessed as a part of the farm. Improvements, other than farm dwellings, shall be assessed as a part of the farm and in addition to the farm dwellings when such buildings contribute in whole or in part to the operation of the farm. For purposes of this Code, "farm" does not include property which is primarily used for residential purposes even though some farm products may be grown or farm animals bred or fed on the property incidental to its primary use. The ongoing removal of oil, gas, coal or any other mineral from property used for farming shall not cause that property to not be considered as used solely for farming.

Elmwood Assessment Comparison

Market trends over last few years. I have compared my house to another in Elmwood. Both our house and the comparable added a major improvement during this time frame. In years where nothing major changed the percentage increase was nearly identical. Your residence in Elmwood probably saw similar trends applied. I have talked with one home owner who experienced a major jump one year five or six years ago. I have not found an explanation I think the grade was changed on his home. Grade should be determined when a house is built consistent application of the definitions is important.

Fair Mkt	$143,070	44.81% 1998 to 2010	$156,600	43.33% 1998 to 2010
2010	47690	1.95%	52200	1.92%
2009	46760	6.54%	51200	6.56%
2008	43700	16.02%	47840	4.31%
2007	36700	11.14%	45780	2.12%
2006	32610	3.71%	44810	3.73%
2005	31400	2.55%	43140	2.55%
2004	30600	2.97%	42040	3.14%
2003	29690	1.08%	40720	19.92%
2002	29370	3.75%	32610	3.71%
2001	28270	0.71%	31400	0.70%
2000	28070	0.00%	31180	5.13%
1999	28070	6.23%	29580	0.00%
1998	26320		29580
				My House

Property Tax is the basis of local government, the local school district is the biggest portion of the property tax bill. Your property taxes support all forms of local services and governments. In my experience everyone is most concerned that the assessment of their real property be accurate and be uniformly applied. It has always been my goal to treat everyone with equal attention, and apply the same standards to each property.

As an assessor I am concerned with equal, uniform, and fair assessments. As a homeowner and taxpayer your concern may be your tax bill. Making sure your assessment is accurate is the best practice to containing taxes. Your property taxes support many of the most important services you expect, so I'll stay with accurate and fair. You can petition your taxing units to contain the rates.

Steve

email to Steve Davis

603 West High ST

309 742-3040

Designation: CIAO

Elmwood Township Assessor Current term: 1/1/2010 to 1/1/2014

Contracted Assessor Timber Twp (2010 - 2011)

Contracted Assessor Rosefield Twp (1998 to 2003)

Warren County BOR (1995 to 1998)

Multi-Twp Assessor (1/1/1981 to 1/1/1993)

Swan, Ellison, and Pt. Pleasant Townships

Tornado Notes

I intended to work out of my office at 112 E Main ST, but tornado changed my plan. I sold Elmet to Derby Net in last of June 2010. I will work out of my house, a phone call should be sufficient most of the time. 2011 is to be a quadrennial revalue year. I will begin trying to review all properties, so you may see me. I hope to meet as many people as possible. Residential properties did not have structural damage from the tornado in almost all cases. The concentration has been in the downtown properties. My goal with residential is to accurately capture the market value in 2011.

You tube video of Tornado

A Second You Tube Video

Tornado goes through Yates City