Isn't That Rich Podcast

Property tax bills have landed in mailboxes across Southern Illinois, and if you opened yours and thought "there's no way that's right," you're in good company. On this week's episode of Isn't That Rich, Ashley and FSB mortgage lender Taylor Shanks sat down with Josh Smith, Supervisor of Assessments for Williamson County, to talk about how your bill is calculated and what you can do if you think your assessment is off.

Ashley actually went through the appeal process herself this year and ended up with a lower tax bill. Her biggest surprise was how easy it was. She also never forgot something a Board of Review member told her: they don't know anything unless you come in and tell them. That idea came up again and again in our conversation with Josh.

What the Supervisor of Assessments actually does

Josh's office has one big job. They find every piece of property in the county and put a fair market value on it. Farmland gets a special preferential assessment, while homes and commercial or industrial property are assessed at market value.

So what is fair market value? It's what a buyer would pay for a property in an open, arm's length sale. That means the property was publicly listed, whether that's a sign in the yard or a listing online. If your grandpa sold you his house at a family discount, that sale doesn't set the market value.

Most new property shows up through building permits. Williamson County requires a permit for anything over 100 square feet, and that process starts with the GIS department in Josh's office. The county also flies aerial photography to spot changes (the next flight is planned for February 2027), and a team of four field listers heads out to take a closer look. Every now and then a neighbor calls in about a new pole building, too.

Ashley shared a story about a woman whose bill skyrocketed because neighboring pasture land was mistakenly lumped in with her parcel. Josh was upfront that map mistakes happen in every county. If you notice a property line error on the county's GIS map, call or email the office and they'll review it.

There's a lot happening behind the scenes in Williamson County right now. 2026 is a quadrennial reassessment year, or "quad" year, when every non-farm property in the county has to be reassessed. Some counties spread that work out over four years, but Williamson tackles it all at once. Josh's office is also rolling out new computer assisted mass appraisal (CAMA) software that uses building sketches and construction quality to calculate values more accurately.

Where your tax bill number really comes from

Josh explained it with a pie. Start with the total assessed value of every property in the county. Once everyone's exemptions come off, that pie shrinks down to what's called the equalized assessed value. From there, every taxing district on your bill asks for the slice it needs to fund its budget. Those requests are what set your tax rate.

This was the biggest lightbulb moment for Ashley. The assessor's office only puts values on property. It's the taxing districts that decide how much money they need. Your assessment matters, but it's only one piece of the math.

Williamson County added a pie chart to this year's tax bills so you can see exactly where your money goes. Schools typically make up the largest slice, usually around 65 to 70 percent of a bill in Williamson County.

If a taxing district wants to increase its levy by more than 4.99 percent, it's required to hold a Truth in Taxation hearing. Josh encourages folks to show up to those meetings and ask questions about where the money is going. He also pointed out that when state and federal education funding shrinks, local taxpayers are the ones who end up making up the difference.

Exemptions: the discounts you might be missing

Think of exemptions as discounts. One thing Josh wants everyone to understand is that these amounts come off your assessed value, not off your tax bill dollar for dollar. If your home is assessed at $100,000 and you get a $6,000 exemption, you're now taxed on $94,000. Your tax rate is then applied to that smaller number.

Here are the exemptions Josh walked us through:

• Owner occupied (general homestead) exemption. If the home is your primary residence, you should be getting this one. It takes $6,000 off your assessed value. Josh's advice was simple: check your tax bill and make sure it's on there.
• Senior citizen exemption. Homeowners 65 and older get $5,000 off their assessed value, which Josh estimates saves roughly $350 to $400 a year.
• Senior assessment freeze. This one is based on total household income, which includes everyone living in the home. If you qualify, your assessed value is frozen at your base year. Your tax rate can still change, but the value you're taxed on stays put as long as you own the home and stay under the income limit.
• Disabled veterans exemption. The savings depend on your disability rating. According to Josh, veterans rated 70 percent or higher are fully exempt on homes valued up to $750,000. You'll need a letter from the VA to apply.
• Disabled persons exemption. If you're under 65 and receiving disability benefits, you may qualify for this exemption, which saves roughly $150 a year. You'll just bring a copy of your benefit form each year.
• Home improvement exemption. Adding square footage, putting up a pole building or updating your kitchen? This exemption keeps the added value off your assessment for four years. Just know that in year five it falls off, and your bill will go up to reflect the full value of your home.

Here's a detail that surprised Taylor. Other than the homestead and senior exemptions, every exemption has to be renewed every year. Josh's office mails the renewal forms in January. If yours doesn't show up, call the office and they'll mail or email you a new one.

A heads up for homebuyers

Taylor always pulls the property tax bill before giving a buyer their loan estimate. Recently Taylor pulled one for a $295,000 home that showed taxes of only about $1,800 to $1,900. A closer look revealed the seller had a senior exemption plus a large senior freeze, which the new buyer wouldn't get. Without catching that, the buyer would have been in for a nasty surprise.

Josh offered a helpful resource for realtors and lenders. If something on a tax bill looks off, you can email him for a tax estimate. His contact information is on the Williamson County website.

Taylor also explained how taxes work at closing. In Illinois, property taxes are paid a year behind, so in 2026 you're paying your 2025 bill. When a home sells, the seller gives the buyer a credit at closing for the time they owned it. That credit lowers the cash the buyer has to bring to closing, but it also means the buyer pays the whole bill when it comes due. Taylor's advice is to set that money aside in a separate account so it's ready when the bill arrives.

How to appeal your assessment, step by step

Know your fair cash value. Your tax bill should list your fair cash value. If it doesn't, multiply your total assessed value by three to get your market value. Then get an idea of what your home is actually worth, whether that's through an appraisal or a conversation with a realtor. Nobody loves thinking about selling their home, but your taxes are based on what it would sell for.

Start with the assessor's office. If your fair cash value is higher than what your home is worth, call Josh's office and bring evidence. A recent arm's length purchase price or an appraisal that comes in below your fair cash value is the easiest case, and Josh will adjust your assessment to match. Keep in mind that most assessments in the county are running behind current sale prices, so if five similar homes nearby just sold for more than your fair cash value, there may not be much the office can do.

File with the Board of Review. If you and the assessor's office can't agree, that's your right, and the next stop is the Board of Review. You can pick up a complaint form at the assessor's office on the second floor of the Williamson County Courthouse or have one mailed to you. The form needs an original signature, so it can't be emailed back.

The key is evidence. Simply saying "my taxes are too high" won't get you anywhere, because the Board of Review only looks at the value of your property. Strong evidence includes:

• An appraisal from a licensed appraiser
• Comparable sales, with at least three and up to ten (the county's GIS site is a great place to find them)
• Photos or documentation of anything that hurts your home's value, like a leaky roof, a failing basement, mine subsidence or an interior that hasn't been updated since the 1950s

That last one matters more than people think. The assessor's office can't see inside your home. A house can look beautiful from the road and need a lot of work on the inside, and the only way the county knows is if you show them.

Watch the deadline. The timing moves every year. Josh is hoping to publish assessments in the Marion Star and on the county website sometime around March. Once that happens, you have 30 days to file a Board of Review complaint. Miss it, and you'll have to wait until next year. The good news is that the Board of Review is open now, so if you already have a concern, you can file today and get on the docket.

What the hearing is like. Ashley can tell you it's not as intimidating as it sounds. Hearings fall under the Open Meetings Act, so anyone can attend, but usually it's just you. In Williamson County, the three county commissioners serve as the Board of Review. You present your case, Josh presents the county's side, and the board makes a decision and mails you a notice.

Take it to PTAB if you need to. If you disagree with the Board of Review's decision, you can appeal to the Illinois Property Tax Appeal Board, known as PTAB. You have 30 days from the mail date on your Board of Review notice to file. PTAB's decision is final. Filing is done online, so just search "PTAB Illinois" to get started.

As Taylor put it, you start with Josh. If you can't come to an agreement, you go to the Board of Review. If that doesn't work out, you go to PTAB.

Josh's biggest piece of advice

Know the value of your home and keep an eye on the fair cash value on your tax bill. If it ever climbs above what your home is worth, come talk to the assessor's office and bring evidence with you.

Josh was also honest that the past few years have been rocky for the office and that public trust has taken a hit. Once the 2026 reassessment wraps up, his goal is to put more online, including exemption filing and property sketches, so taxpayers can see everything for themselves. In his words, he's there for the taxpayers.

Keep the conversation going

Illinois homeowners pay some of the highest property taxes in the country, so understanding your bill is worth the effort. You're the one who lives in your home, and you know it better than anyone. Speaking up is your right.

If you're buying a home and want help understanding what your property taxes might look like, Taylor and our mortgage team would love to help. Stop by any of our locations in Alto Pass, Harrisburg, Marion or Herrin.

Catch the full conversation with Josh Smith on the Isn't That Rich podcast, and subscribe to our weekly newsletter so you never miss an episode. We'll see you next week!