ADDITIONAL COMMUNITY INFORMATION

The Township Assessor is required to uniformly assess properties at a level of 33 1/3% (one third) of market value. The assessor does not decide how many dollars are collected in taxes, instead their work will decide how the property tax burden is distributed among all property owners.

Each property will have a property record card which is maintained at the County Assessor’s office located in the Piatt County Court House in Monticello. This card includes information such as the lot size, a sketch of the real property, and typically photos of the improvements. When buildings are constructed, the assessor will conduct an inspection with an ultimate goal of determining the “value” of the property, and then assign an assessed value, which will be the basis to determine that properties proportion of the tax burden.  Changes to properties are monitored through building permits, sales listing information, and neighborhood inspections.

Assessments are equalized to a median level of 33 1/3% on an annual basis, and a General Reassessment is required every four years to maintain or increase assessment uniformity in each neighborhood. Assessments increase or decrease within a neighborhood based on the three prior years' sales. If necessary, assessment changes are made within a neighborhood based on style, location, or other criteria.