Morgan County Tentative Multiplier Stays at 1.0000

By Jeremy Coumbes on January 19, 2023 at 1:38pm

The 2022 Morgan County tentative property tax assessment multiplier has been announced.

Morgan County has been issued a tentative property assessment equalization factor of 1.0000, according to David Harris, Director of the Illinois Department of Revenue.

The property assessment equalization factor often called the “multiplier”, is the method used to achieve uniform property assessments among counties, as required by law.

Harris says this equalization is particularly important because some of the state’s 6,600 local taxing districts overlap into two or more counties, such as school districts, junior colleges, and fire protection districts.

If there were 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.

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.

According to the announcement, assessments in Morgan County are at 33.80 percent of market value, based on sales of properties in 2019, 2020, and 2021.

The equalization factor currently being assigned is for 2022 taxes, payable in 2023.

Last year’s equalization factor for the county was 1.0000.

According to IDOR, 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 the previous year, then total property taxes will not increase even if assessments may have increased.