CHADWICK-MILLEDGEVILLE CUSD 399

Property Tax Impact Calculator

Use the calculator below to estimate the additional tax investment for your property.

Which value would you like to enter?

Look for “Fair Cash Value” on your most recent property tax bill, or enter your estimated current market or recently appraised value.

Enter your property's Market Value (Fair Cash Value)

We use your property's exemptions to estimate its Net Taxable Value.

Does this property receive the General Homestead Exemption?

Does this property receive the Senior Citizen Homestead Exemption?

Any other exemptions applied to this property?

Enter the total amount of any additional exemptions shown on your property tax bill.

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Cumulative Estimated Additional Tax Investment

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Note: The calculator is intended to estimate the proposed increase to the bond portion of the Chadwick-Milledgeville School District tax bill. Does not include property taxes paid for other District purposes and to other governments (e.g. city, township, county, fire district, community college district, etc.). Actual tax rates and payments may vary based on District-wide EAV growth, individual homeowner reassessment, State Law changes, property tax rate initiatives, and other factors.

* Estimated assessed value: Illinois law sets the assessed value of most non-farm property at 33 1/3% of its fair cash (market) value, so this calculator estimates assessed value as one-third of the value you enter. That estimate may not match the assessed value actually carried on your property record. Assessors set values from prior-year sales studies, and reassessment, new construction, county and State equalization, and appeals can all leave an individual property above or below 33 1/3% of its current market value. For the most accurate result, select "Net Taxable Value" above and enter the net taxable value printed on your most recent tax bill.

How Farmland Is Assessed in Illinois - and Why Farm Ground Is Different

Most Illinois property is assessed at 33 1/3% of its fair market value. Farmland is not. Under the Illinois Property Tax Code, land that has been in a qualifying farm use for the two preceding years is assessed on its ability to produce income - its agricultural economic value, or "use value" - and not on what it would sell for.

Cropland. Cropland is assessed using a per-acre equalized assessed value that the Illinois Department of Revenue certifies each year for every soil productivity index (PI). Those certified values come from statewide studies of soil productivity and farm net income, capitalized at a farmland income capitalization rate. Two farms that would sell for the same price can therefore carry very different assessments if their soils differ.

Other farm acreage. Permanent pasture is assessed at one-third, and other farmland (woodland, woodland pasture and farm building lots other than the homesite) at one-sixth, of the cropland value for the same soil PI. Wasteland is assessed on its contributory value to the farm.

Annual cap. The certified per-acre value by soil PI cannot increase or decrease by more than 10% of the prior year's certified value for the median cropped soil. Market-value assessments carry no comparable limit.

Equalization. The State equalization factor (multiplier) is not applied to farmland acreage or to farm buildings, which are assessed at 33 1/3% of their contributory value to the farm operation. It is applied to the farm homesite and the farm residence.

The house is treated like any other house. The farm homesite, the farm dwelling and any incidental rural residential land are assessed at the same percentage of market value as comparable non-farm residential property, and they remain eligible for the Homestead and Senior Citizen exemptions.

What this means for this calculator. The 33 1/3% market-value estimate above does not describe farm acreage and will substantially overstate the tax impact on farm ground, because a farm's use value is typically well below its sale value. Owners of farm parcels should select "Net Taxable Value" above and enter the net taxable value shown on the tax bill for the parcel, which already reflects the farmland assessment, the homesite and dwelling, and any exemptions.

Source: Illinois Department of Revenue, Publication 122, Instructions for Farmland Assessments (January 2026); 35 ILCS 200/10-110 through 10-145.