2024 Madison County Final Multiplier Announced
SPRINGFIELD - Madison County has been issued a final property assessment equalization factor of 1.0000, according to David Harris, director of the Illinois Department of Revenue (IDOR). The property assessment equalization factor, often called the "multiplier," is the method used to achieve uniform property assessments among counties, as required by law. This equalization is particularly important because some of the state's 6,600 local taxing districts overlap into two or more counties (e.g., school districts, junior college districts, fire protection districts). If there was no equalization among counties, substantial inequities among taxpayers with comparable properties would result. Under a law passed in 1975, property in Illinois should be assessed at one-third (1/3) of its market value. Farm property is assessed differently with farm homesites and dwellings subject to regular assessing and equalization procedures. Farmland is assessed at one-third of its agriculture economic
stLouIST