David Harris Commissioner of Revenue at Illinois Department of Revenue | Illinois Department of Revenue
David Harris Commissioner of Revenue at Illinois Department of Revenue | Illinois Department of Revenue
Calhoun County has been assigned a final property assessment equalization factor of 1.0786, as announced by David Harris, the director of the Illinois Department of Revenue (IDOR). This factor, often referred to as the "multiplier," is essential for ensuring uniform property assessments across counties in compliance with state law. Equalization is crucial because many of Illinois' 6,600 local taxing districts overlap multiple counties, such as school and fire protection districts. Without equalization, taxpayers with similar properties could face significant inequities.
According to a 1975 law, property in Illinois should be assessed at one-third of its market value. However, farm properties have distinct assessment rules; while farm homesites and dwellings follow regular procedures, farmland is assessed based on one-third of its agricultural economic value and does not use the state equalization factor.
In Calhoun County, assessments are currently at 30.90% of market value based on sales from 2021 to 2023. The new equalization factor applies to taxes for 2024, payable in 2025. Last year's factor was set at 1.0982.
The final assessment equalization factor followed a public hearing on the tentative figure issued on April 24, 2025. The IDOR determines this factor annually for each county by comparing recent property sales prices with their assessed values.
If the three-year average level of assessment equals one-third of market value, the equalization factor will be one (1). A greater average level results in a factor less than one (1), while a lower average results in a greater than one (1) factor.
Changes in the equalization factor do not directly affect total property tax bills. These are determined by local taxing bodies based on their annual service funding requests. If these requests do not exceed those from previous years, total taxes remain unchanged despite increased assessments.
An individual's share of tax responsibility depends on their property's assessed value and remains unaffected by changes in the multiplier.
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