:: Grafton Township Assessor ::
:: Grafton Township ::
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copyright 2007 Grafton Township
"My assessed value is what determines my property tax bill." This is False.
What this means:
This is a brief explanation for informational purposes only. For a more information please feel free
to contact our office 847-669-3383 or send us an email assessor@graftontownship.us
- Correct: "The assessed value is used to determine each property owners
portion of the overall Tax Burden"
What this means:
- Municipalities, by state law, are guaranteed to receive the money they ask for as long as
it does not exceed the previous year's levy by 5% or the Cost of Living rate whichever is
lower. This is the reason Property Tax bills will not go down.
The total dollar amount that must be collected from property taxes will always be at least
as much as the previous year.
If all the assessed values decrease, the tax rate will increase and the overall
property tax bill will remain relatively the same.
This is a brief explanation for informational purposes only. For a more information please feel free
to contact our office 847-669-3383 or send us an email assessor@graftontownship.us
