Property Tax Basics for Finance Directors (Cook County Focus)
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|Field of Study
|Finance - Technical
|Earn 1.50 CPE Hours
|Government / Partner Colleagues
This webinar will provide an overview of Illinois Property Tax Assessments, Levies, and Rates for local governments. All Illinois units of local government are welcome to join and benefit from the general discussion, however please note that there will be a specific focus on Cook County processes. This will include a discussion on the property tax assessment and collection process, including which documents Finance Directors need to file on an annual basis and when during the levy year those filings need to occur.
There will also be a discussion of what process is used to calculate property tax rates, including how the Illinois tax cap law acts as a limitation on tax rates and extensions for certain non-home rule communities. Further, the methodology for how property is assessed will be discussed, as well as how increases or decreases in assessments impact tax rates. Additionally, the impact on taxing bodies of both tax increment finance districts and voted bond referenda will be discussed.
Tanya Anthofer, Manager of Maps and Tax Extension for Cook County Clerk
Ali El Saffar, Oak Park Township Assessor and President of the Cook County Township Assessors Association
Learning Objectives: Participants completing this session will be able to:
- Understand the property tax process and timeline, including how and when to file necessary documents;
- Learn the process used to calculate property tax rates including how the Property Tax Extension Limitation Law (PTELL or the “Tax Cap Law”) limits tax rates and extensions;
- Determine how property values are assessed and the impact of valuation increases and decreases on tax rates, and
- Explore the impact of Tax Increment Financing (TIF) and Referenda on tax rates
Intended Audience: Finance Professionals
Delivery method: Group Internet Based
Program Level: Overview
Prerequisites: No prerequisites required
Advanced Preparation: No advanced preparation required
Field of Study: Finance - Technical
Earn about 1.50 CPE credit
Registration & Cancellation Policy
Registrations are accepted on a first-in, first registered basis. Payments by check should be mailed in advance or made at time of registration by credit card.
Cancellation of an event registration is subject to the following policy:
• No refunds will be given for cancellations the day of the event and no shows.
• For IGFOA event registration cancellations five (5) business days or more prior to an event, refunds will be offset by a $20 cancellation fee.
• For IGFOA event registration cancellations within five (5) business days of the training, refunds will be offset by a cancellation fee of 50% of the registration fee.
• A substitute attendee may be designated provided that the payment has been made and the IGFOA office has been notified in advance.
• A written request for a refund must be emailed to the IGFOA prior to the event.
By submitting this registration, the applicant agrees to the registration and cancellation policy above.
IGFOA reserves the right to modify the agenda and/or speakers, cancel the training due to low enrollment, or to close registration if full. Should IGFOA cancel an event, cancellation notice will be sent to the email address provided by each registrant and prominently posted at the IGFOA website page announcing the event.
If you have questions about the cancellation and refund policy, your membership, or a complaint, please contact IGFOA at 630-942-6587. The IGFOA reserves the right to apply the non-member fee to any individual or government that has not paid dues for the current year.
Approved by the National Registry of CPE Sponsors
CPE Registry Illinois Government Finance Officers Association (IGFOA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.