Understanding Your Tax Bill
Tax bills are generally mailed out in the month of May each year. The first installment is due 30 days after the bill is mailed and the second installment is due September 1 (unless that falls on a weekend or Labor Day in which case it would be the first working day thereafter).
Real estate taxes are billed and collected a year behind. In the calendar year 2011, we will be paying real estate taxes for the 2010 year.
Property owners are responsible for ensuring their real estate taxes are paid, even if they are new owners. Generally buyers are credited by sellers with an amount to cover the previous year’s taxes. New property owners may contact the Macon County Treasurer’s office at (217) 424-1426 to request a duplicate tax bill. New owners should also complete a change of address form for tax bill mailing and submit to the Treasurer by March 15. Generally a transfer of deed through the Recorder’s Office specifies a change of address but there is a time lag between the filing of the deed and the copy coming to the Treasurer’s Office. A change of address form is available on this web site.
Many property owners’ taxes are paid from their escrow with their mortgage company. Upon your written direction, we will send the bill directly to the mortgage company. You should verify with your mortgage company if they will be paying the tax bill or if it is up to you. This will avoid a duplicate payment situation or the taxes not being paid at all.
*When choosing where your tax bill is to be mailed, please remember all notices of delinquent unpaid taxes will also be sent to that address as well.
When looking at your tax bill:
Assessed to should represent the owner as per the deed
Permanent index number is assigned by the supervisor of assessments office and identifies your property in relationship with the township and aerial mapping
Property Description is a version of your legal description – sometimes shortened to fit our needs
Location of Property should detail the physical location of the property, if available
Address area to left of property description is the name and address used for mailing of the tax bill as directed by the property owner (any notice of delinquency will also be sent to this name and address)
Formula for Tax Calculation Box contains information regarding assessed value, exemptions in effect for this property, multipliers, and total tax rate along with total amount due. Questions regarding assessed value should be directed to the township assessor. Questions regarding Exemptions should be directed to the Supervisor of Assessments. Taxable Value is the Assessed Value minus the Exemptions. This is used along with the tax rate to calculate your bill. The 1977 value box is used in determining homestead exemption amount. The Fair Market Value is also listed in this box.
Tax Body and Rate Section lists each taxing district and their current and prior year tax rates. You will notice that many taxing districts have a second entry for IMRF, Medicare, Social Security. This is required by state statute to be broken out separately by district. This represents the “Employer” share which is paid on behalf of each employee covered. As an employer the taxing districts must pay their portion of these benefits just as they must pay the employee to work for them. Each Employee also pays their share of these benefits.
Tear Off Coupons on the bottom, one for each installment. A coupon must accompany each tax payment made. Due dates are listed on the coupons. Payments made after the due date will require additional payment of penalty. You should call the Treasurer’s office to ascertain the penalty amount.
If there are prior unpaid taxes, it will appear in the box on the payment coupon.