Why are my property taxes so high?
Illinois does not have a statewide property tax. Property is taxed on the local level only, and includes only real property such as land, buildings or permanent facilities. Real property is assessed at 33 1/3% of market value. Illinois does not tax personal property such as automobiles, trucks or boats. 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 the current city property tax rate?
For the 2012 tax year, the City of O'Fallon rate is $.9874 per $100 of assessed value.
How does that break down to a unit cost?
Fund |
2012 |
2011 |
2010 |
City General Fund |
$.0382 |
$.0426 |
$.0430 |
State Retirement Fund |
$.0595 |
$.0535 |
$.0549 |
Fire Protection |
$.1802 |
$.1818 |
$.1738 |
Police Pension |
$.1767 |
$.1619 |
$.1511 |
Parks |
$.0892 |
$.0900 |
$.0900 |
Social Security |
$.1165 |
$.1009 |
$.0866 |
Ambulance |
$.1784 |
$.2017 |
$.2035 |
Library |
$.1487 |
$.1500 |
$.1500 |
TOTAL |
$.9874 |
$.9824 |
$.9529 |
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 example, the taxable value of a $150,000 house would be approximately $47,000. Multiply the taxable value by the city rate of .9874 (per $100 of assessed value) = $464.08 to the City of O'Fallon. To calculate the portion of an individual Fund (ie...General Fund), multiply the taxable value $47,000 by .0382 =
$17.95.
What is the General Fund?
The General Fund is the amount of your property tax taht is not otherwise controlled by state or federal law (retirement/social security) or voter approved referendum (parks, fire, ambulance, library). THis is sthe amount the City Council can approve to run the city up to a maximum of .2500. This money funds the administration, streets and police.
How does the city operate with such a low General Fund property tax?
$18 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 large and growing sales tax base. Retail sales from the likes of Wal-Mart, Menards and Ace Hardware 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 without a huge increase in property tax.
What property tax exemptions can I qualify for?
To access the forms, click on the appropriate exemption. Adobe software must be installed on your computer 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.
What are the tax rates for O'Fallon?
As of 1/1/2009 the Sales tax rate is 7.85% and is broken down as follows:
State of Illinois |
6.25 |
City of O'Fallon |
.50 |
Transportation - Light rail |
.75 |
Metro East Parks & Recreation District |
.10 |
St Clair County - Flood |
.25 |
TOTAL |
7.85 |
Food & Beverage - an additional 1% added to the Sales tax (8.85%) which remains with the City
Telecom - a total of 12% (5% remains with the City)
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