Illinois State Equalization Factor 2024. Last year's equalization factor for the county was 0.9418. Table 3, final equalization factors.
Clair county are at 31.85 percent of market value, based on sales of properties in 2019, 2020, and 2021. Today the illinois department of revenue released the 2022 cook county equalization factor.
The Equalization Factor Currently Being Assigned Is.
Last year's equalization factor for the county was 0.9791.
The Level Of Assessment To Be Equalized Is The Mean,.
If the correct equalization factor was applied to each of the 16 townships, the department will issue an equalization factor of 1.0000, indicating the assessments are at the correct.
The Department Is Required To Provide An Equalization Factor For Each County That Will Equalize The Level Of Assessment At The Statutory Level Of 33 1/3 Percent Of The Fair Cash Value.
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State Law Requires Equalization In Order To Bring Assessments To The Level Required By State Law, Which Is 33.33% Of Fair Cash Value.
The department is required to provide an equalization factor for each county that will equalize the level of assessment at the statutory level of 33 1/3 percent of the fair cash value.
Last Year's Equalization Factor For The County Was 1.0000.
The illinois department of revenue announced a tentative 2023 cook county equalization factor of 2.8414 on february 8, 2024.
Equalization Is The Process Of Applying A Multiplier To Assessed Values, Bringing The Median Level Of Assessments Of Each Township Or Each County To 33 1/3%.