Frankfort Township

Frankfort Township Assessor
Phone: (815) 464-3180
Office Hours: M-F 8am - 4pm

Monday, February 06, 2023

Frankfort Township

Assessor's Office

Frankfort Township Assessor
Phone: (815) 464-3180
Office Hours: M-F 8am - 4pm
 

Frankfort Township Assessor

11000 Lincoln Highway
Frankfort, IL 60423
Phone (815) 464-3180
Fax (815) 464-3182

Office Hours

Monday thru Friday
8:00 AM - 4:00 PM

EMAIL US:
general@frankfortassessor.com

A Taxpayer's Guide to Property Tax Relief

Township Government
A township is a political and geographical subdivision of a country and state. It is a municipal corporate body that can own property, sue and be sued, borrow money, and levy taxes in accordance with state statutes. A township's elected officials may act for the electorate in the township's name when conducting business.

Will County is divided into 25 townships with 23 Assessors. Generally, there are eight officers in each township, elected for terms of four years: Supervisor, Clerk, Assessor, Highway Commissioner, and four Trustees. The annual meeting of the township electors is held on the second Tuesday in April.

Townships have many duties and some permissive powers. Services which are expressly required of all townships include providing welfare assistance, building and maintaining rural roads, assessing property, and preventing the spread of communicable disease. In addition, townships may establish libraries, medical clinics, museums, community buildings, recreation districts, mental health facilities, cemeteries, and youth committees.

The Township Assessor
The Township Assessor might more accurately be called an appraiser. The Assessor does not levy a tax, but rather places a value on (assesses) all property for tax purposes, appraising it at its fair market value.

The County Clerk compiles a list of all lands and lots to be assessed, including those which are taxable, or which have become taxable for the first time. These lists are conveyed to the Township Assessor through the office of the Supervisor of Assessments.

The Assessor must then determine the market value of all taxable property, and assessors use the same principles, techniques, and methodologies as those employed by fee appraisers with only slight variations to accommodate the uniformity criteria of the statutes. The ultimate purpose of the assessed value is to proportion the tax burden as established by the taxing bodies, over all property in a fair and equitable manner on the value of the real estate.

More Illinois veterans and disabled persons will be eligible for property tax relief as a result of legislation that was passed into law on October 17, 2007.  Public Act 95-0644 creates three new homestead exemptions for Illinois' disabled citizens and qualifying veterans.  The legislation also expands current homestead exemptions to provide property tax relief for qualifying Illinois homeowners and senior citizens.

As you will learn, eligibility requirements vary widely among these programs, and you should review each program's qualifications carefully.

The staff in the Township Assessor's office will be happy to provide additional information, and we encourage you to contact us if you have questions.

The Illinois Homestead Exemption Program
What is the Illinois Homestead Exemption Program, and who qualifies?

There are four different types of exemptions, this program either reduces or defers increases in the equalized value of your property. The net effect of these exemptions is to lower the assessed valuation to which the tax rate is then applied. As explained below, qualifications and application procedures vary for each program. However, you must own the property to qualify for any of these exemptions.

General Homestead Exemption
This exemption lowers the equalized assessed value of your property by $5,000. To receive this exemption, you must:
  • Have lived on the property on or before January 1 of the tax year.
  • The Township Assessor's office initiates this exemption
Homestead Improvement Exemption
This exemption defers for four years any increase in the assessment of your property due to an addition or other improvements to your home for which the Township Assessor would add value
  • A maximum of $25,000 of assessed value may be deferred under this program.
  • The Township Assessor's office initiates this exemption
Senior Homestead Exemption
This exemption lowers the equalized assessed value of your property by $3,500, and may be claimed in addition to the Homestead Limited Exemption. To receive this exemption, you must:
  • Have lived on the property on or before January 1 of the tax year.
  • Have reached age 65 during the tax year.
  • Apply for the exemption at the Township Assessor's office. You will need to bring proof of age (a drivers license or birth certificate - we do not accept passports), a copy of the property's deed, and the tax bill with you when you apply.  If your property is in a Trust, you must also bring a copy of the first page of the Trust Agreement.
Senior Citizens Tax Freeze Homestead Exemption
This exemption freezes the assessment on your property, but does not freeze the tax rate. This exemption may be claimed in addition to those described above. You need to understand that the actual taxes you pay may continue to increase based upon the amounts levied by the taxing bodies where you reside (school districts, park districts, village or city, township, etc.).

The filing deadlines for this exemption is July 1 of each year. To receive this exemption you must:
  • Have fulfilled a property residency requirement as explained on the application form.
  • Be age 65 or older
  • Have a maximum household income of $50,000. This household income includes that of all persons using the property as their principal dwelling place on January 1 of the tax year.
  • Obtain an application for the exemption at the Township Assessor's office. Your completed application must be notarized and returned to either:

    Frankfort Township Assessor                Supervisor of Assessments
    11032 W. Lincoln Hey                                 302 N. Chicago Street
    Frankfort, Illinois   60423                            Joliet, Illinois     60432-4059
    (815) 464-3180                                            (815) 740-4648

    **Please note this exemption must be renewed annually**
Senior Citizens Real Estate Tax Deferral Program
What is the Senior Citizens Tax Deferral Program and who qualifies?

This program is designed to allow senior citizens to defer payment of part or all of the property taxes on their homes. This program functions as a loan, with an annual interest rate of six percent. To qualify for this deferral, you must:
  • Own the property, which must be used exclusively as a residence. Please not that joint ownership under this program is limited to you and your spouse.
  • Have lived on this or another qualifying property for at least three years, except for periods in which you may have resided temporarily in a nursing home or sheltered care home.
  • Be age 65 or older by June 1 of the tax year.
  • Have a maximum household income of $50,000.
  • Have no delinquent property taxes and special assessments on the property
*Note: The filing deadline for the program is March 1 of the tax year.

How much may be deferred?
Eligible residents may defer part or all of their property taxes for each year in which they qualify. The maximum amount that may be deferred (including interest and fees) is 80 percent of the taxpayer's equity in the property.

When must deferred taxes be paid?
Property taxes that are deferred under this program become due when the residence is sold or upon the death of the taxpayer. The deferral may be continued by a surviving spouse who is at least age 55 within six months of the taxpayer's death.

How does one apply for this tax deferral program?
Application for the Senior Citizens Real Estate Tax Deferral Program must be made each year, and involves completing two forms, which are available at the Township Assessor's office. The applications include:
  • A request for information about the taxpayer, his or her income and the property for which the deferral is being sought.
  • A request that any joint owners and mortgage lenders agree to the deferral.
  • Presentation of evidence of adequate insurance on the property.
  • Completion of an agreement which sets out the conditions of the tax deferral, including the maximum amount which can be deferred, the interest rate to be charged, and arrangements for repaying the "loan".
  • Assistance with filling out the forms, and further processing of completed forms are available from:

    Will County Treasurer
    302 N. Chicago Street
    Joliet, Illinois
    60423-4059
    (815) 740-4675
Senior Citizens Circuit Breaker Grants
What is a Senior Citizens Circuit Breaker Grant and who qualifies?

This program provides low-income senior citizens with yearly grants to help pay property taxes. The amount of the grant is determined by a formula that takes into account your property taxes and your total household income. To qualify for a "circuit breaker" grant, you must:
  • Be age 65 or older before January 1 of the tax year. If you reach age 65 during the tax year, you may be eligible for a partial grant covering the months in which you qualify.
  • Have lived in an Illinois residence which was subject to property taxes during the tax year.
  • Live in Illinois at the time you file for a grant
  • Have a maximum household income of $14,000
  • Obtain an application from the Township Assessor's office, and complete and file it on or before December 31 of the tax year.
When are these grants paid?
If you file a qualifying claim early in the year, grants will be issued within three to four months. For claims filed after May 1, grants are generally issued within eight to ten weeks.

If I die, will my spouse continue to receive the circuit breaker grant?
If your surviving spouse was age 63 or older before your death, he or she may continue to file for the circuit breaker grants.

Disabled Veterans ExemptionWhat is a Disabled Veterans Exemption and who qualifies?

Under this program, up to $50,000 of the equalized assessed value of a home that is owned by a qualifying veteran, the veteran's spouse, or unmarried surviving spouse is exempt from property taxes. To qualify for this exemption, you must:
  • Have served in the Armed Forces of the United States.
  • Have a disability of such nature that the Federal Government has authorized payment for the purchase or construction of housing which has special adaptations to meet the needs of your disability.
How do I establish a Disabled Veterans Exemption?
You apply for this exemption through the Illinois Department of Veteran's Affairs. Once the exemption has been approved, the Township Assessor is notified automatically.

Please note that this exemption must be renewed each year.

You may obtain the required forms from the:
Illinois Department of Veteran's Affairs
58 N. Chicago Street
Joliet, Illinois
60423
(815) 727-6584
Frequently Called Will County Office Numbers:
  • Treasurer (815) 740-4675
  • Supervisor of Assessments (815) 740-4704
  • Recorder (815) 740-4637
  • Board of Review (815) 740-4650
  • Map Department (815) 740-8385

Fair and Impartial Assessments, Providing Equality for All