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 6600 local taxing districts overlap into two or more counties — e.g. school districts, junior college districts, fire protection districts. If there were 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 of its market value. Farm property is assessed differently, with farm home sites and dwellings subject to regular assessing and equalization procedures, but with farmland assessed at one-third of its agriculture economic value. Farmland is not subject to the state equalization factor.
Assessments in Massac County are at 33.10 percent of market value, based on sales of properties in 2008, 2009 and 2010.
The equalization factor currently being assigned is for 2011 taxes, payable in 2012. Last year's equalization factor for the county was 1.0196.
The final assessment equalization factor was issued after a public hearing on the tentative factor. The tentative factor issued in March 2012 was 1.0000.
The equalization factor is determined annually for each county by comparing the 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 this three-year average level of assessment is one-third of the market value, the equalization factor will be one. If the average level of assessment is greater than one-third of market value, the equalization factor will be less than one. And if the average level of assessment is less than one-third of market value, the equalization factor will be greater than one.
A change in the equalization factor does not mean total property tax bills will increase or decrease. Local taxing bodies determine tax bills 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 the previous year, then total property taxes will not increase even if assessments increase.
The assessed value of an individual property determines what portion of the tax burden a specific taxpayer will assume. The
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multiplier does not change that individual's portion of tax responsibility.
According to Massac County Supervisor of Assessments Gary Hamm, he has file-shifted information for the 2011 tax bills, payable in 2012 to Massac County Clerk John Taylor
In Massac County the taxing districts that levy for monies each year, that are collected through property taxes include: Massac County, Vienna District #56, Massac County Hospital, Massac fire District, Vienna High School 13-3, Shawnee Junior College, County Unit Road, Joppa Sanitary, Massac Unit One, City of Brookport, city of Joppa, city of Metropolis, Bay Creek Conservatory District and Cache River Conservation.
After Taylor completes the process of inputting the taxing district levy information, files are shifted then to Massac County Treasurer Floyd Sullivan, who will then prepare the information for property tax bills.
Sullivan will then set installment dates for property tax bills for 2011, payable this year.
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