Manhattan Township Assessor's Office

Assessor
Joseph (Joe) R. Oldani
230 Wabash Street
Manhattan IL 60442
(815) 478-5154 Telephone  Fax (815) 680-5595

Certified
Illinois
Assessing
Official

New Assessment Year News Letter
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Additional Information

Manhattan Residents:                                                                               3-15-2020

            2020 assessments increase this year will be one of the smallest increases in recent years according to the results of the Illinois Department of Revenue (I.D.O.R.) Real Estate Sale Ratio Study.  This study projects an annual equalization factor that forces assessments to increase or decrease according to the median assessment level in the sturdy that is calculated from each "Market Sale" by dividing the prior year total assessment by the sale price.  Example if a residential property is assessed at 100,000 but sells for $305,000 the assessment level for this sale is .3243 (100,000 / 308,350) just slightly below the State of Illinois mandated median assessment level of .3333 percent of market value,  In this study all of the "Market Sale" sale ratios are ranked from low to high and the middle position of the ranking is used to determine the new year Equalization Factor from the I.D.O.R. Sales Ratio Study.  Example assume the assessment level in the example above is the middle ranking of all the sales being considered in the ranking then the new Equalization Factor calculates to 1.0277 (.3333 /.3243).  Manhattan Township is not unique many other Will Couty Townships and others across Illinois will also have to increase assessments in 2020.  This is the basic process that takes each year as far as assessments are developed.  The other part of the Tax Rate calculation concerns the Levy that is determined by each Taxing Body listed on an individual tax bill.

  Rising assessments is the only realistic way to bring our high tax rates down.  They will not drop dramatically in a single year.  Example the last two years the Manhattan Township Tax Rates have been lower due to raising assessments.  The 2019 tax rates that were used to calculate the tax bills paid this year I estimate will not drop more then the two previous years due to a lower assessment increase for the 2020 assessment year.  I realize it will not enough to lower most property tax bills from the year before but the lower tax rate will impact the tax bills because without a drop in the tax rate the tax bills would even be higher.

            August 2020 the assessment change notices will be sent by Will County.  This starts a thirty-day period to file an assessment appeal.  The appeal deadline for the 2020 assessments the first week of September 4, 2020.  If you believe your property is over assessed I encourage you to speak to me about it.  If we cannot agree the appeal process is available to you.  The appeal forms are available on the Will County Web type www.willcounty.soa click on Will County Board of Review scroll down to the appropriate form example Residential Appeal Form and Residential Appeal Form Instructions.

           The Will County Board of Review may lower an assessment if the evidence presented is more persuasive than the evidence submitted by the assessor because at this point in the tax cycle the limitation of the equalization factor discussed above does not apply.  At this time the assessor and the Will County Board of Review are only dealing with an individual property rather than doing mass appraisal. 

           I can only provide assessment relief when the facts according to real estate assessment practices indicate an additional adjustment is needed.  The Manhattan Township Assessorís Web Site is available so all can have an anonymous transparent view of all assessments.  Even if a person does not understand every detail of the assessment process they can review the results and call me when they have questions.   Anyone can appeal the assessment on their property before the Will County Board of Review.  It is just part of the assessment process that gives everyone the right to seek another opinion based on a set of facts they present.     

                                                            Sincerely
                                                                        Joseph R. Oldani