Logan County
Property Tax Guide

Assessment administration: Revaluation cycle: Other - see footnote. Director is Mixed. Counties and townships conduct assessments. There are 102 counties. County assessment officials on a statewide basis are collectively called chief county assessment officers. In Cook and St. Clair counties, the county assessor has primary assessment responsibility. In the commission counties, which have no township level government, the supervisor of assessments has primary assessment responsibility. In the other counties, township or multi-township assessors have primary assessment responsibility. There are over 900 of these elected assessors, most of whom serve part-time only.

Classification and ratios: %; Class 1 Vacant Land 10%; Class 2 Residential 10%; Class 3 Multi Family 10%

Tax limits: Non-home rule taxing districts are limited to a 5% increase in the tax levy over the prior year. If the district wishes to increase the levy further, it must publish a notice in a newspaper of general circulation in the taxing jurisdiction and hold a public hearing. The hearing may not coincide with that of the proposed budget. If a taxing district does not comply with the requirements of the Truth-in-Taxation Law, the levy increase is limited to 5%.

Agricultural treatment: Farmland value is based on productivity and is determined using an income capitalization approach. For cropland, the state-certified equalized assessed value is based on the 5-year moving average net income on a per-acre basis taking into account soil productivity index yields, crop mix, and soil productivity index under average level management. Adjustments are made to take into account features of the land such as slope, drainage, ponding, flooding, field size, and shape. Pasture land is assessed at 1/3 of the productivity index of cropland, other farmland is assessed at 1/6 of the productivity index of cropland, and wasteland is assessed on its contributory value to the farmland parcel. Net income is capitalized by the 5-year moving average of the Federal Land Bank farmland mortgage interest rate. Any increase or decrease in the assessed value may not exceed 10% from the immediatel...

Personal property treatment: Personal property taxed: No. Inventory taxed: No. Machinery and equipment taxed: No

Transfer charges: The state real estate transfer tax rate is $0.50 for each $500 (or fraction thereof) of the value stated in the declaration of transfer. This value by which the tax is computed is the full actual consideration of the real property or beneficial interest in real property, at a minimum of $100, as shown on a deed or on the trust document of a land trust transfer or on a deed or document relating to the transfer of a taxable beneficial interest, exclusive of the amount of the mortgage shown therein that remains outstanding at the time of transfer. A county has the option to impose a real estate transfer tax on a title transfer through a deed or on a beneficial interest through a trust docume...

Legal definition: Property; real property; real estate; land; tract; lot (a) The land itself, with all things contained therein, and also all buildings, structures and improvements, and other permanent fixtures thereon, including all oil, gas, coal, and other minerals in the land and the right to remove oil, gas and other minerals, excluding coal, from the land, and all rights and privileges belonging or pertaining thereto, except where otherwise specified by this Code. Not included therein are low-income hous...