Sangamon Sun

Menard County has received a property assessment equalization factor of 1.0000, announced by David Harris, the director of the Illinois Department of Revenue. The equalization factor, sometimes called the "multiplier," is used to ensure property assessments are uniform across counties in Illinois. Uniform assessments help prevent disparities in tax burdens for properties spanning multiple counties, such as school districts and fire protection areas.

In Illinois, a law enacted in 1975 requires property to be assessed at one-third of its market value. Farm property is assessed using different criteria, with farmland valued at one-third of its agricultural economic value. In Menard County, assessments are averaging 33.24% of the market value, derived from property sales in 2021, 2022, and 2023. The equalization factor applies to 2024 taxes, payable in 2025.

The final factor follows a public hearing on a tentative factor published on February 6, 2025, which was also 1.0000. This factor is calculated annually by comparing property sales prices over the past three years to assessed values.

The value of the equalization factor does not directly affect tax bills. Local taxing bodies determine tax bills based on their fiscal needs for services. If these bodies do not request more funds than previously, property taxes will remain constant even with increased assessments. An individual's property assessment dictates their tax share, and this is not altered by the multiplier.