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*|
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:
*Rate excludes Road & Bridge, levied by the Township
- Qualifying food, drugs, and medical appliances - 1.75%
- Items required to be titled or registered - 7.0%
- All other general merchandise - 8.0%
The distribution of the sales tax rate is as follows:
|Taxing Body||Tax Rate|
|Village Non-Home Rule||1.00%|
|Regional Transportation Authority||0.75%|
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, 2020, water and sewer rates are as follows:
Water: $4.51 per 1,000 gallons
Sewer: $9.13 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: $15.00 flat fee per month
Recycling: $4.05 flat fee per month