Property Taxes

The Village of Lombard receives one of the smallest shares of property tax of any taxing district.  The Village’s property tax as a percentage of each property owner’s total tax bill is less than 8% of the total tax bill, meaning that less than $0.08 of every dollar paid in property taxes will go to the Village in 2012-2013.  When all is said and done, the amount due that appears on your tax bill is based on the following equation:

                        Equalized Assessed Value (EAV)/100 x Tax Rate = Taxes Owed

Your EAV, as determined by the township assessor, is equal to one third of your property’s fair market value less any exemption you receive.  Therefore, if you own a property with a fair market value of $300,000 as determined by the township assessor, your EAV would be equal to $100,000. A homestead exemption of $5,000 would further reduce this amount to $95,000.  The tax rate is expressed as an amount per $100 of equalized assessed value (EAV).  Given these assumptions and assuming a tax rate of 7.3561 per $100 EAV, your taxes owed in Year 1 would be $6,988.30 and are calculated as follows: 

                                                $95,000/100 x 7.3561 = $6,988.30

Of this total amount, only $531.81 would be paid to the Village of Lombard.

The above example is representative of tax code 6011.  Please note that there are approximately 30 different tax codes within Lombard and each receives a different property tax bill depending on whether the area is included within a given taxing district’s boundaries.  Your property tax bill may differ slightly from what is shown here depending on where you live in Lombard.  To find out the property tax distribution specific to your property visit the DuPage County Clerk's website .  Enter either your Property Index Number (PIN#) or your address to see where your tax dollars go.