Why your property tax bill is higher

Thumbnail image for tax.jpgWhen I opened my bill for the first installment of my property tax, I was surprised to see that it was higher than I expected. Sure, isn't it always? But this year, it's different

The first installment is usually one half of the last year's bill. They have to estimate the amount because the levies from the various taxing bodies--municipalities, park districts, school districts and so forth--aren't available until later in the year. You get to pay the full, and actual, amount then. 
This year it's different because a new law requires that 55 percent of last year's tax bill in the first installment. They not only want more of our money, but they want is sooner. 

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