It's likely the biggest investment you'll ever make, and for some people in Winnebago County it's paying off.
"Economically the real estate, housing market is doing much better. That's good for all of us," says Rockford Township Assessor Ken Crowley.
Crowley says property values are up across Winnebago County, with a net increase of 2.72%. He says while some people might think this automatically bumps up their taxes, that's not necessarily the case.
"The assessment going up is one component of the tax bill. The budget and levies of individual taxing districts are a big part of it."
Here's how your property tax bill works. Several different groups, including the city and school district, get a portion of your tax dollars. How much is up to them with their levy. So if your assessment goes up, but the levy goes down or stays the same, your bill will likely stay the same. But there's also a worst case scenario.
"If you're in the city of Rockford and you have an increase of about 2% in your assessed value and you have an increase in about 2% of spending you would have on a $100,000 home about a $90 increase on your housing bill," says Crowley.
RPS 205 collects the bulk of your tax dollars in Rockford, roughly 50%. Superintendent Ehren Jarrett says the district has actually seen a slight decrease in its tax rate in the past years.
"We are in a good situation where over the last 5 years the school district has collected the same amount of dollars every year," says Jarrett. "We're proud of the fact were continuing to drive the rate lower because we know we want the Rockford community and the community within our boundaries to be a great value proposition."
RPS 205 will consider its levy and tax rate this fall. If you disagree with your assessment you have until the August 21st deadline to protest it. You can find more information on how to do that here.