Why are my property taxes so high?
The City of O'Fallon General Fund Property Tax is at a rate lower than the rate in 1995. The city believes that our great schools are a large part of what makes O'Fallon a great place to live. There are only so many property tax dollars to go around and the city has a policy of keeping our property tax rate at an absolute minimum.
What is my city property tax rate?
For the 2003 tax year (collected Jul-Dec-2004), the City of O'Fallon rate is 1.0179 per $100 of assessed value.
How does that break down to unit cost?
City General Fund .0454
State Retirement Fund .0779
Fire Protection .1009
Police Pension .1294
Parks .0900
Social Security .1355
Ambulance .2500
Library .1500
Library Board .0388
1.0179
How do I equate that amount to my house?
Each year the County Treasurer sends out Real Estate Tax Bills for each Parcel in the county. Your tax bill lists the fair property value of your home. The fair market value is reduced by various exemptions and assessments depending upon the property and owner to arrive at the Taxable Value (a rule of thumb is 1/3 of fair property value). For a $150,000 house the taxable value would be approximately $47,000 multiplied by the city rate of 1.0179 or $478.41. For an individual amount (General Fund .0454), multiply by taxable value 47,000= $21.33.
What is the General Fund?
The General Fund is the amount of your property tax that is not otherwise controlled by state or federal law (retirement/ social security) or voter approved referendum (parks, fire, ambulance, library, library board). This is the amount the Council can approve to run the city up to a maximum of .2500. This money funds city administration, streets, and police.
How does the city operate with such a low general fund property tax?
You are right; $22.00 from a home owner with a $150, 000 house does not buy much in the way of street repair or police protection. The City of O'Fallon is fortunate enough to have a large3 and growing sales tax base. Yes, retail sales at Wal-Mart and the car dealers are paying for your police protection, street repair, and general city administration. Without our sales tax base our service level and way of life in O'Fallon would not be possible with a huge increase in property tax.
What property tax exemptions can I qualify for?
To access the forms, click on the appropriate exemption. Adobe must be installed as well. If you do not have Adobe or if you cannot access or print the document, you may pick up a copy at City Hall.
Senior Citizen Homestead Freeze Exemption: Homeowners 65 years old or older with an income of less than $50,000 during the calendar year preceding the taxable year of application may freeze the EAV. If household income is greater than $45,000, there is a percentage decline in the exemption benefit. (Applicants must reapply every year.)
Senior Citizen Homestead Exemption: Reduction of $3,500 in EAV for residential property occupied as a primary principal residence by a person who is 65 years old or older. The person must also have a legal or equitable interest in the property during the assessment year and be liable for the payment of the property tax. For evidence, a copy of your driver’s license or state ID and a copy of the deed to the property are required with the form.
General Homestead Exemption: Reduces the current year’s EAV increase by up to $5,000. To qualify, residential property must be occupied as the principal dwelling place by the owner or a lessee with an equitable interest in the property and an obligation to pay the property taxes on the leased property.
Homestead Improvement Exemption: Homeowners who have made improvements that increase the assessed value of their property may receive an exemption of up to $75,000 of the market value of the home improvement. Before filling out form, call the County Board of Review at (618)-277-6600-(extension 2488) to see if you qualify. This exemption can continue for four years from the completion of the improvement.
Completed forms need to be turned into the Belleville courthouse or Mailed to:
St. Clair County Board of Review
10 Public Square, 5th Floor
Belleville, IL 62220-1623.
How can the assessed value of my home be appealed?
You qualify for an appeal if the assessed value of your home is higher than the market value, is based on incorrect information, is assessed higher than similar properties, or is at a higher percentage than the level of assessment.
Drop off at the Belleville Courthouse or mail it to:
St. Clair County Board of Review
10 Public Square, 5th Floor
Belleville, IL 62220-1623.
To appeal the decision of the St. Clair County Board of Review, click on the following hyperlink: Illinois Property Assessment Appeal Form, print out the form, and fill it out. If you cannot access or print either form, you may pick up copies at City Hall. Forms are to be mailed to:
Property Tax Appeal Board
Room 402 Stratton Office Building
401 South Spring Street
Springfield, IL 62706-4001
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