Randolph County has received a tentative property assessment equalization factor of 1.0000 for 2025, according to David Harris, director of the Illinois Department of Revenue (IDOR). The equalization factor, also known as the multiplier, is used to ensure uniform property assessments across counties in Illinois.
The process is important because many of the state’s 6,600 local taxing districts extend into more than one county. Without equalization, taxpayers with similar properties in different counties could face significant differences in their tax responsibilities.
State law requires most property in Illinois to be assessed at one-third of its market value. Farm properties are treated differently; while farm homesites and dwellings follow standard assessing and equalization procedures, farmland and farm buildings are assessed based on productivity standards.
Each year, IDOR determines the equalization factor for every county by comparing sales prices from the past three years to assessed values assigned by local officials. If the average assessment matches one-third of market value, the multiplier is set at 1.0000. If assessments are higher or lower than this benchmark, the multiplier adjusts accordingly.
For Randolph County, assessments were found to be at 33.27% of market value based on property sales from 2022 through 2024. The new tentative multiplier applies to taxes for 2025 payable in 2026. Last year’s factor was also set at 1.0000.
The tentative factor may change if the County Board of Review makes significant adjustments or if new data is presented that suggests IDOR’s estimates should be revised. A public hearing will take place between 20 and 30 days after publication of the tentative factor in a local newspaper.
Changes in the equalization factor do not directly affect total property tax bills; those amounts depend on how much money local taxing bodies request each year for services. An individual’s share of taxes is determined by their property’s assessed value and is not changed by the multiplier itself.
The Illinois Department of Revenue oversees state taxation and revenue management and aims to administer tax laws fairly while providing accurate information to residents according to its official website. The agency also promotes diversity and equity within its operations as stated on its site.
“SPRINGFIELD, IL, Randolph County has been issued a tentative 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.”
“State law requires property in Illinois to 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 and farm buildings are assessed according to standards based on productivity.”
“The equalization factor is determined annually for each county by comparing the sales price of individual properties sold over the past three years to the assessed value placed on those properties by the county supervisor of assessments/ county assessor.”
“If the three-year average level of assessment is one-third of market value, the equalization factor will be one (1.0000). If the average level of assessment is greater than one-third of market value, the equalization factor will be less than one (1.0000). And if the average level of assessment is less than one-third of market value, the equalization factor will be greater than one (1.0000).”
“Assessments in Randolph County are at 33.27% of market value, based on sales of properties in 2022, 2023, and 2024.”
“The equalization factor currently being assigned is for taxes, 2025 payable in 2026.”
“Last year’s equalization factor for the county was 1.0000.”
“The tentative factor is subject to change (1) if the County Board of Review takes actions which significantly affect the county assessments, or (2) if local officials or others can present data showing that IDOR’s estimates of the average level of assessments in the county should be adjusted.”
“A public hearing on the tentative multiplier will be held between 20 and 30 days after the tentative factor is published in a newspaper of general circulation within the county.”
“A change in the equalization factor does not mean total property tax bills will increase or decrease.”
“Tax bills are determined by local taxing bodies when they request money each year to provide services to local citizens.”
“If the amount requested by local taxing districts is not greater than the amount received in previous year then total property taxes will not increase even if assessments may have increased.”
“The assessed value an individual property determines what portion tax burden a specific taxpayer will assume That individual’s portion tax responsibility not changed by multiplier.”
