Randolph County has been issued a final 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.
For more on the multiplier, please see this week’s print edition.