Property Tax Data Can Aid School Districts In Budgeting And Levying

by Franczek Radelet P.C.
Contact

There are a number of little known sources of data that can assist school districts in their financial planning and public relations efforts. This information is available from local officials and State agencies as well as private organizations that research these issues. When used effectively, this information can also help create a broader consensus about property taxes within a school district, on a board education, and throughout a community. This FR Alert is intended to help school districts gain access to this helpful information.

Illinois Department of Revenue

The Illinois Department of Revenue is one, if not the only, institution that collects comprehensive, statewide property tax data. Compiling this information is time consuming, so there is a delay in posting the data to the Department’s website. For example, the most recent data is from 2010. The data is extensive, however. The data sets range from property tax extensions by type of taxing district, to taxes extended by type of property, to average tax rates over time. This information can be used to compare and contrast an individual school district’s property tax experience with a wider universe of taxing agencies. For example, a particular school district’s extension might have grown at a much lower rate than the statewide average. The Department’s data sets are available here.

County Assessing Officials

County assessing officials keep track of aggregate as well as individual assessments. In Cook County, aggregate assessed value by class of property within townships is maintained in the annual abstract of assessments. The aggregate assessed value by class of property within individual taxing agencies, including school districts, is maintained in the “31A Report” for a particular taxing agency. This information is also available outside of Cook County because county assessing officials are required to file “PTAX-260-A” and “PTAX-282” reports with the Illinois Department of Revenue. These reports break down the assessments by class of property within townships and list all the properties with assessed values of $1,000,000 or more within each township. The DuPage County report is available at the Supervisor of Assessments website here.

Cook County Clerk

The Cook County Clerk’s Office provides exceptional information concerning TIF Districts. The information ranges from maps of all the TIF Districts in the County to the latest information on how much money each TIF District was expected to collect during the last tax year. This information is available here.

Nonprofit Research Organizations

There are many different organizations conducting research on property taxes as well. The Civic Federation, for example, prepares an annual report on the effective tax rates in communities throughout northeastern Illinois. Effective tax rates are a measurement of tax burden that are relatively easy to use. Multiplying the effective tax rate by the full market value of a property provides people with a relatively accurate estimate of their tax bill. The Civic Federation’s report is available here. The Taxpayers’ Federation of Illinois produces a similar report covering the entire State of Illinois. And, the Minnesota Taxpayers Association, in conjunction with the Lincoln Institute of Land Policy, does a nationwide survey of effective tax rates that is available here.

School districts can utilize these resources to plan their finances, to put their largest single source of revenue in perspective, and to develop consensus among stakeholders.

More Information

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Franczek Radelet P.C. | Attorney Advertising

Written by:

Franczek Radelet P.C.
Contact
more
less

Franczek Radelet P.C. on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Privacy Policy (Updated: October 8, 2015):
hide

JD Supra provides users with access to its legal industry publishing services (the "Service") through its website (the "Website") as well as through other sources. Our policies with regard to data collection and use of personal information of users of the Service, regardless of the manner in which users access the Service, and visitors to the Website are set forth in this statement ("Policy"). By using the Service, you signify your acceptance of this Policy.

Information Collection and Use by JD Supra

JD Supra collects users' names, companies, titles, e-mail address and industry. JD Supra also tracks the pages that users visit, logs IP addresses and aggregates non-personally identifiable user data and browser type. This data is gathered using cookies and other technologies.

The information and data collected is used to authenticate users and to send notifications relating to the Service, including email alerts to which users have subscribed; to manage the Service and Website, to improve the Service and to customize the user's experience. This information is also provided to the authors of the content to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

JD Supra does not sell, rent or otherwise provide your details to third parties, other than to the authors of the content on JD Supra.

If you prefer not to enable cookies, you may change your browser settings to disable cookies; however, please note that rejecting cookies while visiting the Website may result in certain parts of the Website not operating correctly or as efficiently as if cookies were allowed.

Email Choice/Opt-out

Users who opt in to receive emails may choose to no longer receive e-mail updates and newsletters by selecting the "opt-out of future email" option in the email they receive from JD Supra or in their JD Supra account management screen.

Security

JD Supra takes reasonable precautions to insure that user information is kept private. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. However, please note that no method of transmitting or storing data is completely secure and we cannot guarantee the security of user information. Unauthorized entry or use, hardware or software failure, and other factors may compromise the security of user information at any time.

If you have reason to believe that your interaction with us is no longer secure, you must immediately notify us of the problem by contacting us at info@jdsupra.com. In the unlikely event that we believe that the security of your user information in our possession or control may have been compromised, we may seek to notify you of that development and, if so, will endeavor to do so as promptly as practicable under the circumstances.

Sharing and Disclosure of Information JD Supra Collects

Except as otherwise described in this privacy statement, JD Supra will not disclose personal information to any third party unless we believe that disclosure is necessary to: (1) comply with applicable laws; (2) respond to governmental inquiries or requests; (3) comply with valid legal process; (4) protect the rights, privacy, safety or property of JD Supra, users of the Service, Website visitors or the public; (5) permit us to pursue available remedies or limit the damages that we may sustain; and (6) enforce our Terms & Conditions of Use.

In the event there is a change in the corporate structure of JD Supra such as, but not limited to, merger, consolidation, sale, liquidation or transfer of substantial assets, JD Supra may, in its sole discretion, transfer, sell or assign information collected on and through the Service to one or more affiliated or unaffiliated third parties.

Links to Other Websites

This Website and the Service may contain links to other websites. The operator of such other websites may collect information about you, including through cookies or other technologies. If you are using the Service through the Website and link to another site, you will leave the Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We shall have no responsibility or liability for your visitation to, and the data collection and use practices of, such other sites. This Policy applies solely to the information collected in connection with your use of this Website and does not apply to any practices conducted offline or in connection with any other websites.

Changes in Our Privacy Policy

We reserve the right to change this Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our privacy policy will become effective upon posting of the revised policy on the Website. By continuing to use the Service or Website following such changes, you will be deemed to have agreed to such changes. If you do not agree with the terms of this Policy, as it may be amended from time to time, in whole or part, please do not continue using the Service or the Website.

Contacting JD Supra

If you have any questions about this privacy statement, the practices of this site, your dealings with this Web site, or if you would like to change any of the information you have provided to us, please contact us at: info@jdsupra.com.

- hide
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.