Effingham County Final Multiplier Announced
Published on July 17 2014 6:20 am
Last Updated on July 17 2014 6:20 am
Written by Greg Sapp
Effingham County has been issued a final property assessment equalization factor of 1.0000.
Illinois Department of Revenue Director Brian Hamer said the property assessment equalization factor, better known as the "multiplier", is used to achieve uniform property assessments among counties. The multiplier is especially useful in taxing districts that overlap county boundaries such as school districts or community college districts. If there were no equalization among counties, substantial inequities among taxpayers with comparable properties would result.
Assessments in Effingham County are at 33.26% of market value, based on sales of properties in 2010, 2011 and 2012. Under a law passed in 1975, property in Illinois should be assessed at one-third of its market value, so overall property is being accurately assessed.
Last year's multiplier in Effingham County was also a "1".