Course Descriptions

Illinois Tax Policy
002-213 Exam | 002-214 Seminar

This course is for assessment officials who are inquisitive about tax policy and how it relates to property assessment.

The main role of assessment officials in the Illinois property tax cycle is to uniformly assess property and administer homestead exemptions. The mechanics of the assessment process are based on property tax policy decisions that have evolved over time. Because of this, government officials and taxpayers often turn to assessment officials to answer questions regarding the assessment process and how it impacts the division of the property tax burden among taxpayers. This course defines tax policy and covers the property tax issues intrinsic to Illinois in the areas of market value assessing, Tax Increment Financing (TIF), Property Tax Extension Limitation Law (PTELL), farm valuation, and homestead exemptions. Assessment officials will be given analytical tools with which they can explain the effects the current system and any proposed property tax changes.

Hours: 15 CE Hours
Category: Theory

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