The state says Morgan county property values need no increase for 2025 taxes, payable in 2026.
That means Morgan County final multiplier is 1, meaning no adjustments are needed in the state’s eyes for property values here.
The tentative multiplier released in January of this year was actually below 1. It has now been adjusted upward.
Property in Illinois should be assessed at one third of the fair market value.
Farm property is assessed differently…based on its ag economic value. It is not subject to the state multiplier.
The multiplier is based on the price of properties sold over the past three years, compared to the assessed value of the properties from the supervisor of assessments here.