2016 Logan County Final
For tax liability to be paid
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[May 02, 2017]
- Logan County has been issued a final property assessment equalization
factor of 1.0000, according to Constance Beard, Director of the Illinois
Department of Revenue.
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 (e.g. school districts, junior college
districts, fire protection districts). If there were no equalization
among counties, substantial inequities among taxpayers with comparable
properties would result.
Under a law passed in 1975, property in Illinois should be assessed at
one-third (1/3) of its market value. Farm property is assessed
differently, with farm homesites and dwellings subject to regular
assessing and equalization procedures, but with farmland assessed at
one-third of its agriculture economic value. Farmland is not subject to
the state equalization factor.
Assessments in Logan County are at 33.24 percent of market value, based
on sales of properties in 2013, 2014, and 2015.
The equalization factor currently being assigned is for 2016 taxes,
payable in 2017. Last year's equalization factor for the county was
The final assessment equalization factor was issued after a public
hearing on the tentative factor. The tentative factor issued in November
2016 was 1.0000.
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The equalization factor is determined annually for each county by
comparing the price of individual properties sold over the past three years to
the assessed value placed on those properties by the county supervisor of
If this three-year average level of assessment is one-third of
the market value, the equalization factor will be one (1). If the average level
of assessment is greater than one-third of market value, the equalization factor
will be less than one (1). And if the average level of assessment is less than
one-third of market value, the equalization factor will be greater than one (1).
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 the amount
requested by local taxing districts is not greater than the amount received in
the previous year, then total property taxes will not increase even if
The assessed value of an individual property determines what portion of the tax
burden a specific taxpayer will assume. That individual's portion of tax
responsibility is not changed by the multiplier.
[Illinois Department of Revenue]