CPA in Lisle, IL: Tax, Payroll and Accounting

Lisle sits just northeast of Naperville, close to our office. It lies entirely in DuPage County, it has a larger share of renters than most of the nearby suburbs we cover, and it uses tax increment financing districts that shape its property tax picture. If you are looking for a Lisle CPA, this page covers what is distinctive about taxes here.

Who lives in Lisle

The Census Bureau's American Community Survey (2020-2024 five-year estimates) counts about 23,400 residents. Median household income is about $107,000, and about 62 percent of adults hold a bachelor's degree or higher. About 17 percent of residents identify as Asian alone, including roughly 2,100 people (about 9 percent) who identify as Asian Indian alone; about 4 percent of all residents were born in India. Employed residents work mostly in education and health care, professional and administrative services, finance and real estate, and manufacturing. Roughly 56 percent of occupied homes are owner-occupied, so renters are a large group.

For Indian-American households, reporting of Indian accounts and property is often the main complication. See our guides on the US-India tax treaty and foreign tax credit for India-source income.

Property tax and your township

In DuPage County, township assessors set the starting values, and the first two digits of a parcel number show the township. Lisle Township is 08, and its assessor's office is in Lisle. The DuPage Treasurer collects the tax, and the Board of Review hears assessment appeals. You file an appeal within 30 days after your township's assessment roll is published, with evidence such as three or more comparable properties. An appeal addresses the assessed value, not the bill amount.

Renters do not receive a property tax bill themselves. If you are a landlord, rental income and expenses go on Schedule E; see rental property taxes. Owners can include property taxes in the state and local tax deduction.

What a TIF district means for a Lisle taxpayer

The Village of Lisle uses tax increment financing (TIF) districts for redevelopment. According to the Village, when a district is created, the assessed value of its real estate is frozen at a base level. For up to 23 years, the growth in value above that base is collected into a special fund that the Village can reinvest in the district. A TIF district is not a separate tax. It redirects the growth in property tax revenue inside the district to that special fund for the period. Business owners considering a purchase or lease inside a district should ask about incentives and how assessed value is expected to change. Our business tax preparation team can help model the tax side.

How we can help

For Lisle clients, we prepare returns for renters, owners and landlords, and for business owners we model the tax side of a lease or purchase inside a TIF district. We also keep books, run payroll and review IRS notices. Visit our Naperville office by appointment or work fully online, starting at the contact page.

Frequently asked questions

General information only, not tax, legal or accounting advice for your situation. Rules, limits and deadlines change; confirm the current rules with the official source or a qualified professional before you act. Reading this page does not create a professional relationship with CPA Tax Payroll and Accounting Corp.