Quantcast

Sangamon Sun

Monday, November 4, 2024

Macon County sees no change in state multiplier on property assessments

Shutterstock 342154160

The tentative state equalization factor for property assessments in Macon County remains unchanged from last year – 1.000.

The county's property assessment equalization factor, commonly known as the multiplier, applies to 2017 taxes payable in 2018, Illinois Department of Revenue Director Constance Beard said in a release.

The equalization factor is computed by comparing individual properties' sales prices over the recent three-year period with the assessed value of the properties as determined by the county, the release said.

Non-farm property in Illinois is assessed at one-third its market value, as required by state law. An equilization factor of 1.0 means the average level of assessment over the three-year period is one-third the market value. A factor greater than 1.0 means the average assessment is less than one-third the market value, with a factor lower than 1.0 signifying a higher-than one-third assessment average in the same period, the release said.

The equilization factor attempts to eliminate taxpayer inequities among counties.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS