THIS IS AN EXAMPLE ONLY

Fair market value – in real estate is the determined price that a property will sell for in an open market.

Fair Market Value                    93,000
Divide by 3                                / 3                      Divided by 3 to get Assessed value
Assessed Value                       = 31,000

Subtract Deductions               – 6,000                 General Homestead Exemption
.                                               – 5,000                 Senior Homestead Exemption

Taxable Value                          = 20,000
Multiply by Tax Rate                x .079                  Tax Rate  7.9/100 = .079

Total Real Estate Taxes         = $1,580
Divide by 2                                / 2

Installment 1                             = $790               due approximately 30-45 days after tax bills are mailed
Installment 2                             = $790               due approximately 60 days after the first installment

Please note that all values listed above are just examples, and taxpayers need to replace example figures with their own values / Tax rate / exemption.

 Where can I find my Tax Rate or Exemption for my Parcel?

• • • The tax rates and exemption are shown on last year’s tax bill
    • Go to Randolph County Tax Inquiry website: https://randolphil.devnetwedge.com/
    • Call Randolph County Assessor office at 618-826-5000 ext 192

Swimming Pool

• In-ground Pool – It will be assessed.
• Above GROUND pool – It will not be assessed.

Portable Shed/Shipping Containers

• Electric or plumbing – It will be assessed.

Carport

• If it has concrete foundation – It will be assessed.
• If no concrete  – It will not be assessed.
• Electric – It will be assessed

PTAX-203 and PTAX-203A

The Randolph County Recorder of Deeds Office is a participant in the Illinois Department of Revenue’s MyDec program which allows for the FREE online preparation and submission of real estate property transfer tax declarations. The MyDec program also allows users to track the status of and make corrections to electronically prepared PTAX-203 forms throughout the entire recording process.

Please register to become a MyDec user at https://mytax.illinois.gov/MyDec so you can submit electronically prepared PTAX-203 forms to any Illinois county that participates in the MyDec program.

A detailed set of instructions for the MyDec program can be found at https://www2.illinois.gov/rev/localgovernments/property/Pages/MyDec-Updates.aspx and the Illinois Department of Revenue has a toll-free hotline dedicated to supporting the MyDec program. Support personnel can be reached Monday thru Friday from 8:00AM – 4:30PM by calling 844-445-1114 or via email at Rev.MyDecProject@illinois.gov.

• Homestead Exemptions

This exemption is for property owned and used by a fraternal organization whose members provide financial support for charitable works. Call our office for clarification.

This exemption is for property owned and used by a veteran’s organization on which is located the principal building for the post, camp or charter. Call our office for clarification.

This exemption provides a $5,000 reduction in the equalized assessed value of the veteran’s principal residence. Call our office for clarification.

This exemption is for taxpayers who are disabled at least 30% or more through the Veteran’s Administration. Call our office for clarification.

This exemption is for taxpayers who are disabled. There are several different ways of qualifying for the exemption. Call our office for clarification.

This exemption is on the property you own and occupy. It is only on residential improvements (not on farm improvements i.e. barn, silo, etc.). It reduces the assessed value by the amount of increase (up to $75,000 Fair Market Value).

This exemption freezes the assessed value (not taxes) back to the base year for each year that the form is completed and returned to the Assessor’s Office. To qualify, a taxpayer must own and occupy the property as their principal dwelling on January 1 and have a household income of $55,000 or less.

This exemption reduces the final equalized assessed value by up to $5,000. To qualify for this exemption, a taxpayer must be age 65 or older during the assessment year, and own and occupy the principal dwelling on January 1st of the assessment year.

This exemption reduces the final equalized assessed value up to $6,000, to fall below the 1977 equalized assessed value. To qualify, a taxpayer must own and occupy a property as the principal dwelling on January 1st of the assessment year.