$1.37 Billion in Property Taxes To Be Collected in Kane — 'Average Bill' Up 3.15% This Year

$1.37 Billion in Property Taxes To Be Collected in Kane — ‘Average Bill’ Up 3.15% This Year

  • Editor’s Note: This article is part of a series examining 2019 property taxes payable in 2020. Tax bills will be mailed to Kane County residents, starting May 1. They will be available online starting April 29 on the Kane County Treasurer’s Office website. Subsequent articles in this series will look at the top 10 Kane County taxpayers and an estimate of the average property tax bill by township.

This “Where The Money Goes” pie chart is from the recently updated Property Tax FAQ document that can be found on the Kane County Treasurer’s Office website. As you can see from the chart, about 68.4% of property tax dollars go to local schools.

Kane County will collect more than $1.37 billion in property taxes this year.

That’s a lot of money, of course, collected from property with a net taxable valuation of $15,274,423,255, according to statistics provided by the Kane County Clerk’s Office.

The “average tax bill” for a Kane County resident is $6,993.63 this year. That’s a 3.15% increase over last year’s average tax bill.

Of course, by far the biggest portion of your property tax money goes to local public schools. In most years, more than 68 percent or more of your property tax payments are going to local education.

The second-biggest slice of the property tax pie goes to municipal governments — cities or villages in Kane County — and that accounts for 10.4% of the property tax bill you’ll pay this year.

Average Tax Bill

The average tax bill is calculated by taking the total amount of the real estate tax collection and dividing it by the total number of parcels in the county. It is not a figure representing the average home owner’s property tax bill.

The 3.15% increase in the average tax bill is the highest since the tax bills payable in 2015. That year, the year-over-year increase was 4.55%.

 

 

Read The Series

For More Information

  • For questions about exemptions or appeals, call the Kane County Supervisor of Assessments Office at 630-208-3818 or visit KaneCountyAssessments.org.
  • For questions about how tax rates are developed, call the Kane County Clerk’s Office at 630-232-5964 or visit KaneCountyClerk.org.
  • For questions about tax bills or payments, call the Kane County Treasurer’s Office at 630-232-3565 or visit KaneCountyTreasurer.org.

SOURCE: Kane County Treasurer’s Office news release and website