The Coal Valley Township Assessment Office is open Tuesday and Thursday mornings from 9:00 – 12:00 a.m. The office is located at 900 First Street in Coal Valley on the North end, and is part of the new complex owned by the Village of Coal Valley and the Robert Jones Library.
The assessor is available to answer questions pertaining to property assessments and to assist property owners with the exemptions for which they qualify: Owner Occupied, Senior Homestead, Senior Assessment Freeze, and/or Home Improvement.
EXEMPTIONS
Owner Occupied (Required for all exemptions)
The Owner-Occupied exemption is available for property owners who meet the following requirements:
Live in their home January 1st of the tax year.
Do not have the exemption on another property.
A pro-rated Owner-Occupied exemption is available for new construction and is applied from the date of occupancy through December 31st of the tax year. Currently the Owner-Occupied exemption is $5000 of assessed value.
Senior Homestead
The Senior Homestead exemption is available for property owners who meet the following requirements:
Qualify for the Owner-Occupied exemption.
Owner has reached the age of 65 (at least one spouse).
Currently the Senior Homestead exemption is $3500 of assessed value.
Senior Assessment Freeze
The Senior Assessment Freezeis available for property owners who meet the following requirements:
Qualify for the Senior Homestead exemption.
Total household income from previous tax year is $50,000 or less.
Have lived in the home for a period of time that includes January 1st of two consecutive years.
Home Improvement
The Home Improvement exemption is available for property owners who meet the following requirement:
Qualify for the Owner-Occupied exemption.
The exemption is limited to $75,000 of market value and is not taxed for four years beginning the first year after completion.
If you have a question or concern about how the revenue from your property taxes is used, please contact the appropriate taxing body. (See above.)