The Illinois Department of Revenue announced on Apr. 9 that Franklin County has been assigned a tentative 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 step is part of efforts to ensure uniform property assessments across counties.
The equalization factor is important because it helps prevent inequities among taxpayers with similar properties when local taxing districts overlap county lines. Without this adjustment, taxpayers in different counties could face unequal tax burdens for comparable properties.
State law requires most property in Illinois to be assessed at one-third of its market value. The process for determining the equalization factor involves comparing sales prices and assessed values over the past three years. For Franklin County, assessments were found to be at 33.06% of market value based on sales from 2022 through 2024.
The department said last year’s multiplier was also set at 1.0000 and noted that changes to the current tentative factor may occur if new data are presented or if significant adjustments are made by the County Board of Review. A public hearing will take place between 20 and 30 days after publication in a county newspaper.
Officials emphasized that changes in the multiplier do not automatically mean increases or decreases in total property tax bills; those amounts depend on how much money local taxing bodies request each year from residents for services provided.
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 information, according to its official website. It is also known for overseeing 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.
