Assessor
Joseph (Joe) R. Oldani
23465 Eastern Ave.
Manhattan IL 60442
(815) 478-5154 Telephone & Fax

Certified
Illinois
Assessing
Official

Manhattan Residents:

            The Will County Supervisor of Assessments, under the direction of Rhonda Novak will be hosting a Tax Forum on August 1, 2011 starting at 6:30 p.m. at the Wilson Creek Grade School located on Gougar Road.   At this tax forum the agenda will include the appeal process and assessments regarding your real estate taxes, along with the explanation of the different exemptions that aid in the help of reducing the real estate taxes.  This is a convenient opportunity for seniors those turning 65 years of age in 2010 or already 65 and older can sign up for senior exemptions.  Also any age disabled person or disabled veteran home owner can sign up for additional exemptions to help reduce their real estate tax bill.  After the presentation by Rhonda Novak, Chief County Assessment Official for Will County there will be an opportunity to ask questions such as why does my tax bill go up when the assessment drops.  When the 2010 Real Estate Tax Bills arrive in May 2011 most homeowners will find another increase again.

            Most Will County Townships received a slight negative factor from the Illinois Department of Revenue for the 2010 assessment year.  Assessment reductions will not apply to all parcels and let me emphasize they will be very slight changes.  Assessment changes up or down do not automatically translate as cheaper real estate taxes.  It really depends on what happens to the tax rate.  The assessment is only one component to calculating the tax rate.  The tax levy (the amount of money requested by each taxing body) is the other component to calculating the tax rate.  It is the operating expense variable of the equation tax rate equals the tax levy divided by the total equalized assessed value.  You will notice that the tax rates for Manhattan Township have increased again partly due to falling assessments.  Most will still see some increase in their tax bills due to the increased tax rates.  A comparison between 2009 and 2010 tax rates is provided on the tax bill so you may see how each individual taxing body's tax rate is affecting the overall tax rate.

Assessments have dropped again in 2011 to reflect what is happening in the real estate market.  The Illinois Department of Revenue’s Sale Ratio is the key component of the assessment process.  The study is comprised of multiple years of sales with the three most current prior years of real estate sales having the greatest impact on the study results.  Only “Market Value” sales are considered in the sale ratio study, short sales, foreclosures, and others that do not fit the definition of “Market Value” are not included.  The three most current prior year sales for the 2011 Assessment year are 2010, 2009, and 2008.  The 2011 assessments will be published about the second week of August 2011 and they will not be considered final values until the Will County Board of Review closes its 2011 session sometime in December of 2011. In general assessments will drop more than the 2010 assessment for which the tax bill you received in May 2011 is based on.

At this time I expect the real estate assessments decrease slightly through the 2012 assessment year with taxes payable in 2013.  More information on assessment process topics see the Additional Information link on the Home Page. 

            Many people have contacted me seeking tax relief as another way of reducing overall expenses during this poor economy.  I can only provide assessment relief when the facts according to real estate assessment practices indicate some inequity.  Over the past year I reviewed many appraisals for bank refinancing that stated deep reductions in value.  When I have analyzed the comparable properties used in most of these appraisals I found them not to be that comparable to the subject property.  So if I turn someone down seeking relief it is not because I am mean spirited.  It is only to protect the integrity of the assessor’s office.  The Manhattan Township Assessor’s Web Site is available so all can have an anonymous transparent view of all assessments.  Even if a person does not understand every detail of the assessment process they can see the results and call me when they have questions.   Anyone who has been turned down for assessment relief by me can always try to prove their case before the Will County Board of Review.  It is just part of the assessment process that gives anyone the right to seek another opinion based on a set of facts they present.  I do not take this challenge personally I understand it is everyone’s right of due process under the law.        

                                                            Sincerely
                                                                        Joseph R. Oldani