The tax bill takes into account the any new assessment and the new tax rate. The total tax is calculated by multiplying the Total Tax Rate by the Taxable Assessed Value (divided by 100). This amount equals the total taxes due on the parcel for the year. The Total Tax Rate represents the taxes paid to each taxing body per $100.00 of Taxable Assessed Value. The Taxable Assessed Value represents the Equalized Assessment less the Exemptions that a taxpayer is entitled to.

The interest penalty is 1.5% per month and in order to follow Statute 35 ILCS 200/21-15 interest charges begin the day after the due date. Statute 35 ILCS 200/21-15 “ Except as otherwise provided in this Section or Section 21-40, all property upon which the first installment of taxes remains unpaid on June 1 annually shall be deemed delinquent and shall bear interest after June 1 at the rate of 1 ½% per month or portion thereof…all property upon which the second installment of taxes remains due and unpaid on September 1, annually, shall be deemed delinquent and shall bear interest after September 1 at the same interest rate…Payment received by mail and postmarked on or before the required due date is not delinquent.”

The service provider for credit cards and debit cards charges a convenience fee of 2.25% on the amount of taxes being paid plus a transaction fee of $1.50 per transaction. All E-Checks will be charged a flat fee of $2.00 The Tax Payer is responsible for all convenience fees and parcel verification. McLean County receives no part of the convenience fee paid.