The Illinois Department of Revenue announced on Mar. 11 that Marshall County has been assigned a final property assessment equalization factor, or multiplier, of 1.0000 for the 2025 tax year, payable in 2026. David Harris, director of the department, said the factor is intended to ensure uniform property assessments among counties.
The equalization process is important because many local taxing districts in Illinois overlap county lines. Without this adjustment, taxpayers with similar properties could face unequal tax burdens. The multiplier helps standardize assessments so that each taxpayer pays a fair share based on their property’s value.
According to Harris, “The property assessment equalization factor, often called the ‘multiplier,’ is the method used to achieve uniform property assessments among counties, as required by law.” He explained that under state law passed in 1975, most properties should be assessed at one-third of their market value. Farm properties are assessed differently; homesites and dwellings follow regular procedures while farmland itself is valued at one-third its agricultural economic value and does not use the state multiplier.
Assessments in Marshall County currently stand at 33.32% of market value based on sales from 2022 through 2024. The tentative multiplier issued last November was also set at 1.0000 and finalized after a public hearing. The department determines these factors annually by comparing recent sale prices to assessed values over three years.
A change in the equalization factor does not automatically mean higher or lower tax bills for residents. Local taxing bodies decide how much money they need each year; if their requests do not increase from previous years, total taxes will remain stable even if assessments rise.
The Illinois Department of Revenue works to foster an inclusive environment that values diversity and equity for employees and customers, as stated on its official site. The agency focuses on fairly administering state tax laws and efficiently collecting revenues while providing accurate information according to its official website. It also serves as a state agency dedicated to promoting diversity and equity in its operations according to its official site. Additionally, it oversees the collection of state taxes and delivers reliable financial information according to its official website, operating within state taxation and revenue management as detailed on its official website.
