DotPhoto | Subscribe | Advertise | Contact Us | Deaths
Daily News in Robinson, Ill. | Crawford County, Illinois

Deaths
Subscribe
Advertise With Us
Forms to print
Guest Book
Video Library

US and State Elected Officials
Municipal Governments
County Officials
County Board



home : local news : local news June 28, 2016

3/15/2013 9:46:00 AM
Multiplier means values are slightly above market
Factor of 0.97 will be used in preparing this year's county property-tax bills.
A key factor in preparing this year's property tax bills has arrived.

Crawford County has been issued a tentative property assessment equalization factor of .9697, according to Illinois Department of Revenue Director Brian Hamer.

The property assessment equalization factor, often called the "multiplier," is the method used to achieve uniform property assessments among counties, as required by law.

With the multiplier in, county officials can prepare this year's property tax bills.

The multiplier is particularly important because some of the state's 6,600 local taxing districts - such as school, community college and fire protection districts - overlap into two or more counties. 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 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.

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.

If this three-year average level of assessment is one-third of market value, the equalization factor will be 1. If the average level of assessment is greater than one-third of market value, the equalization factor will be less than 1.

And if the average level of assessment is less than one-third of market value, the equalization factor will be greater than 1.

Assessments in Crawford County are at 34.37 percent of market value, based on sales of properties in 2009, 2010 and 2011. The equalization factor currently being assigned is for 2012 taxes, payable this year.

The equalization factor for the county last year was 1.0000 the last three years.

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 tentative factor could change if the Crawford County Board takes action that significantly affects county assessments, or if county officials provide proof to the Department of Revenue that it should be adjusted.

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.





Article Comment Submission Form
Please feel free to submit your comments.

Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it.

Note: All information on this form is required. Your telephone number is for our use only, and will not be attached to your comment.
Submit an Article Comment
First Name:
Required
Last Name:
Required
Telephone:
Required
Email:
Required
Comment:
Required
Passcode:
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.
   


Advanced Search




ExtrasRobinson Living
Site Design and Content Copyright 2016 Robinson Daily News
Software © 1998-2016 1up! Software, All Rights Reserved