Prairie State Wire

A property tax equalization factor of 3.0355 for Cook County for the year 2024 was announced by the Illinois Department of Revenue. This factor, also known as the multiplier, is calculated to ensure uniform property assessment across the state.

The law mandates that the Department determine this equalization factor for each county. This process involves comparing actual selling prices of properties over a three-year period with their assessed values as determined by the county assessor. When there is a discrepancy between the median level of assessment and the legally required 33 1/3 percent level, an equalization factor is applied to align assessments with legal standards.

For further details, refer to "2024 Cook County Final Multiplier Announced."