David Harris Director the Illinois Department of Revenue | Official Website
David Harris Director the Illinois Department of Revenue | Official Website
Gallatin County has received a final property assessment equalization factor of 1.0000, according to David Harris, director of the Illinois Department of Revenue (IDOR). This factor, also known as the "multiplier," ensures uniform property assessments across counties, which is crucial due to overlapping local taxing districts such as school and fire protection districts.
Under Illinois law from 1975, properties should be assessed at one-third of their market value. Farm properties are assessed differently; homesites and dwellings follow regular procedures, while farmland is assessed at one-third of its agricultural economic value without state equalization.
Assessments in Gallatin County stand at 33.26% of market value based on sales from 2021 to 2023. The current equalization factor applies to 2024 taxes payable in 2025. Last year's factor was also set at 1.0000.
The final factor was determined after a public hearing on May 7, 2025. It is calculated annually by comparing property sale prices over three years with their assessed values by county assessors.
A change in the equalization factor does not directly impact total property tax bills; these are decided by local taxing bodies based on their yearly financial requests. If these requests remain unchanged from the previous year, total taxes will not increase even if assessments rise.
The assessed value determines each taxpayer's share of the tax burden, unaffected by changes in the multiplier.
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