Tuesday, August 4, 2015

Your Property Tax Bill and the Library

On today’s property tax bill, the average home in Plainfield invests about $190 annually in the Plainfield Public Library District. According to American FactFinder (which is a division of the US Census Bureau), the median home value in the Library District is $295,300. Using that median home value, the charts below show the tax bill of that home, assuming it’s located in the Village of Plainfield and Plainfield Township. Exact figures vary with township and municipality.

Looking at that tax bill graphically, the top five pieces of the pie comprise 90% of your tax bill: school district, fire district, county, village and community college district. The library’s portion of the average household’s property tax bill is $190.14 at a tax rate of .2057 mils or just over 20 cents per one hundred dollars of equalized assessed valuation of the property.

When people think about their property taxes, it’s the big number that sticks in their heads, that total amount. The Plainfield Public Library District’s portion is a small fraction, just over 2% of your total tax bill - a low 3 digit number. When Library expansion planning and its impact on your property tax bill are discussed, remember that it will still be low 3 digit numbers, not that big number from your total property tax bill.

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