Equalization Factors
2022 SA Equalization Factors | |
Cherry Valley | 1.0515 |
Durand/Laona | 1.0860 |
Harlem | 1.0752 |
Owen | 1.0594 |
Pecatonica/Seward | 1.0635 |
Rockford | 1.0906 |
Rockton | 1.0686 |
Roscoe | 1.0645 |
Winnebago | 1.0508 |
Shirland/Harrison/Burritt | 1.0672 |
2006-2022 Equalization Factors
Illinois Department of Revenue - Publication 136 - Property Assessment & Equalization
WHAT IS EQUALIZATION?
- Equalization is the adjustment of the median level of assessment up or down so that the tax burden is "equalized" among taxing districts.
- State law requires equalization in order to bring assessments to the level required by state law, which is 33.33% of fair cash value.
- Equalization is accomplished by the use of an Equalization Factor, which is a factor applied to all non-farm assessments.
- Equalization factors can occur at four levels:
- Neighborhood level, as applied by the Township Assessor.
- Township level, as applied by the Supervisor of Assessments.
- Township level, as applied by the Board of Review.
- County level, as applied by the Illinois Department of Revenue.
WHAT EQUALIZATION FACTORS ARE NOT OPTIONAL?
WHY EQUALIZE?
STEPS IN CALCULATING TOWNSHIP EQUALIZATION FACTOR
EQUALIZATION BY THE STATE