Prairie State Wire

Adams County has been issued a tentative property assessment equalization factor of 1.0000, according to David Harris, director of the Illinois Department of Revenue (IDOR).

The property assessment equalization factor, often called the "multiplier," is the method used to achieve uniform property assessments among counties, as required by law. This equalization is particularly important because some of the state's 6,600 local taxing districts overlap into two or more counties, such as school districts, junior college districts, and fire protection districts. Without equalization among counties, substantial inequities among taxpayers with comparable properties would result.

State law requires property in Illinois to be assessed at one-third of its market value. Farm property is assessed differently, with farm homesites and dwellings subject to regular assessing and equalization procedures. Farmland and farm buildings are assessed according to standards based on productivity.

The equalization factor is determined annually for each county by comparing the sales price of individual properties sold over the past three years to the assessed value placed on those properties by the county supervisor of assessments or county assessor. If the three-year average level of assessment is one-third of market value, the equalization factor will be 1.0000. If the average level of assessment is greater than one-third of market value, the equalization factor will be less than 1.0000. Conversely, if the average level of assessment is less than one-third of market value, the equalization factor will be greater than 1.0000.

Assessments in Adams County are at 33.32% of market value based on sales of properties in 2021, 2022, and 2023.

The current equalization factor being assigned is for taxes payable in 2025.

Last year's equalization factor for Adams County was also 1.0000.

The tentative factor is subject to change if either (1) the County Board of Review takes actions that significantly affect county assessments or (2) local officials or others present data showing that IDOR's estimates should be adjusted. A public hearing on the tentative multiplier will be held between 20 and 30 days after it is published in a newspaper with general circulation within Adams County.

A change in the equalization factor does not mean total property tax bills will increase or decrease. Tax bills are determined by local taxing bodies when they request money each year to provide services to local citizens. If local taxing districts do not request more money than they received in the previous year, then total property taxes will not increase even if assessments rise.

The assessed value of an individual property determines what portion of the tax burden a specific taxpayer will assume; this individual's portion does not change with adjustments to the multiplier.