A common method of valuing properties is through the use of comparable properties. The assessor identifies properties that are similar and then determines the value of the properties based on the price of a recent home sold. As illustrated below, Sugar Grove's EAV continues to grow.
All property owners pay property taxes.
Each taxing district establishes a tax levy based on the dollars it needs to operate in the next year. The County then calculates the tax rate by dividing the levy amount by the value of all property in the taxing body's jurisdiction. As illustrated below, the amount of property taxes is not evenly divided among the taxing bodies. Due to a lack of funding from the State, local school districts represent the largest portion of the property tax bill for nearly all Illinois residents.