Hancock County has received a tentative property assessment equalization factor of 1.0000 for the 2025 tax year, according to David Harris, director of the Illinois Department of Revenue (IDOR). The equalization factor, also known as the multiplier, is used to ensure uniform property assessments among counties in Illinois.
The multiplier is important because many of the state’s 6,600 local taxing districts cross county lines. Without such equalization, taxpayers with similar properties in different counties could face significant disparities.
Illinois law requires that most property be assessed at one-third of its market value. However, farm properties are assessed using standards based on productivity rather than market value. The annual equalization factor for each county is determined by comparing sales prices over the past three years with assessed values set by county officials.
A factor of 1.0000 indicates that Hancock County’s average level of assessment matches the legal requirement; specifically, assessments are at 33.23% of market value based on sales from 2022 to 2024. Last year’s multiplier was also 1.0000.
The announced figure is tentative and may change if the County Board of Review makes significant adjustments or if new data is presented suggesting a revision is needed. A public hearing will take place between 20 and 30 days after publication in a local newspaper.
According to Harris: “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.”
He added: “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.”
The Illinois Department of Revenue administers state tax laws and manages revenue collection while aiming to provide accurate information and efficient service to taxpayers (official website). The department also works toward fostering diversity and equity among employees and customers (official site).
