Taxes & Fees

Local Government FundingFrankfort relies on several revenue sources to provide resident services and capital improvements. Sales tax is our largest revenue source, followed by property tax and charges for services. Below is information on taxes and fees charged by the Village of Frankfort.      

Property Tax

A portion of the Village’s revenues come from property taxes.   Property tax bills are computed based on the assessed value of your property (less applicable exemptions) multiplied by a tax rate. Assessment values are determined by the Township Assessor, who is independent of the Village. 

Relative to your total property tax bill, the Village receives approximately 5% of the total property tax bill, with other dollars directed to other organizations such as school, park, library, fire, forest preserve districts, and others. Therefore, the total tax rate you pay will depend on where you reside in the Village because different school, park and library districts levy different tax rates.  

Property tax bills are issued by Will County each year for the preceding tax year. The Village of Frankfort does its part to manage its presence in the property tax bill. Below is a ten year history of the property tax rate collected per $100 of assessed value. The Village also receives money from Road & Bridge taxes, however these rates are levied by the Township and are not controlled by the Village.

Levy Year       Rate per $100 EAV* 
2022 .3261
2021 .3370
2020 .3383
2019  .3384
2018  .3385
2017 .3386
2016   .3387
2015   .3388
2014   .3389
2013   .3390
2012   .3391
2011  .3392

*Rate excludes Road & Bridge, levied by the Township

Sales TaxThe sales tax rate in Frankfort is 8.00%, which became effective July 1, 2019 after voters approved collection of a 1% non-home rule sales tax. However, sales tax in Illinois is not universally applied and there are three categories for the actual sales tax rate charged:

  1. Qualifying food, drugs, and medical appliances - 1.75%
  2. Items required to be titled or registered - 7.0%
  3. All other general merchandise - 8.0%
To view more specific information about what is included in each of these categories, please visit the Illinois Department of Revenue's Sales & Use Tax site.

The distribution of the sales tax rate is as follows:

Taxing Body  Tax Rate 
State  5.00%
County  0.25%
Village 1.00%
Village Non-Home Rule  1.00%
Regional Transportation Authority    0.75%
 Total  8.00%

Water & Sewer Rates

Water and sanitary sewer service is billed monthly, with a minimum charge on 2,000 gallons for all accounts.  As of May 1, 2023, water and sewer rates are as follows:

Water: $5.01 per 1,000 gallons

Sewer: $10.14 per 1,000 gallons

Garbage Collection Fee

Garbage and recycling services are provided by Homewood Disposal Service for incorporated residents.  These services are billed monthly and are included on the water bill.  The garbage and recycling rates are as follows:

Garbage: $17.10 flat fee per month

Recycling: $4.62 flat fee per month