2023 Logan County Tentative
Multiplier Announced
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[October 17, 2023]
Logan
County has been issued a tentative property assessment equalization
factor of 1.0000, according to David Harris, 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.
State law requires property in Illinois to 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 and farm buildings
assessed according to standards based on productivity.
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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/county assessor.
If this three-year average level of assessment is one-third of
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).
Assessments in Logan County are at 33.41 percent of market value,
based on sales of properties in 2020, 2021, and 2022.
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The equalization factor currently
being assigned is for 2023 taxes, payable in 2024.
Last year’s equalization factor for the county was 1.0000.
![](http://archives.lincolndailynews.com/2023/Oct/18/images/ads/current/humanesociety_sda022411.png)
The tentative factor is subject to change (1) if the
County Board of Review takes actions which significantly affect the
county assessments or (2) if local officials or others can present
data showing that the Department of Revenue’s estimates of the
average level of assessments in the county should be adjusted.
A public hearing on the tentative
multiplier will be held between 20 and 30 days after the tentative
factor is published in a newspaper of general circulation within the
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 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 assessments may have
increased.
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 Office of Communication and
Information]
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