The Illinois Department of Revenue announced on Mar. 12 that Hamilton County has been assigned a final property assessment equalization factor, or multiplier, of 1.0000 for the 2025 tax year, payable in 2026. David Harris, director of the department, said this decision follows a public hearing and reflects the county’s assessments at 33.43% of market value based on sales from 2022 to 2024.
The equalization factor is used to ensure uniform property assessments across counties in Illinois, which is important because many local taxing districts overlap county lines. Without such equalization, taxpayers with similar properties could face unequal tax burdens.
Under state law passed in 1975, most property should be assessed at one-third of its market value. Farm homesites and dwellings are subject to regular assessing and equalization procedures, while farmland itself is assessed at one-third of its agricultural economic value and is not subject to the state equalization factor.
The department explained that if the three-year average level of assessment matches one-third of market value, the multiplier will be one. If it exceeds or falls short of this benchmark, the multiplier adjusts accordingly. The previous year’s multiplier for Hamilton County was also set at 1.0000.
A change in the equalization factor does not automatically mean property tax bills will rise or fall; those amounts are determined by local taxing bodies based on their annual funding requests. The assessed value determines each taxpayer’s share but does not alter their portion due to changes in the multiplier.
The Illinois Department of Revenue works to foster an inclusive environment that values diversity and equity for employees and customers, as stated on its official site. The agency focuses on fairly administering state tax laws and efficiently collecting revenues while providing accurate and timely information, according to its official website. It serves as a state agency dedicated to promoting diversity and equity in its operations according to its official site. The department is known for overseeing the collection of state taxes and delivering reliable financial information according to its official website, operating within state taxation and revenue management as detailed on its official website.
