About

The Elgin Township government is one of the oldest forms of government in Illinois. Townships perform three mandatory functions: administering a general assistance program to qualifying residents, maintaining township road district highways and bridges, and assessing real property. Townships have been given various powers which they may exercise depending upon the needs of their constituents. Your Elgin Township Assessor has an important job of determining the fair market value of property within the township (residential, commercial, industrial, farms and vacant land). According to the Illinois Department of Revenue, the definition of market value is the “most probable sale price of a property in terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing sufficient time for the sale, and assuming that the transaction is not affected by undue pressures”. The Illinois Property Tax Code states that property should be assessed at 33.33% of its fair cash value. All properties are valued as of January 1st of each year.