The Illinois Department of Revenue announced on Apr. 16 that Richland County has been assigned a final property assessment equalization factor, or multiplier, of 1.0000 for the year 2025. David Harris, director of the department, said this decision follows a public hearing and is based on assessments from recent years.
The equalization factor is used to ensure that property assessments are uniform across all counties in Illinois. This process helps prevent inequities among taxpayers who own similar properties in different counties, especially since many local taxing districts span more than one county.
According to Harris, “The property assessment equalization factor, often called the ‘multiplier,’ is the method used to achieve uniform property assessments among counties, as required by law.” He explained that without such equalization measures substantial disparities could arise between taxpayers with comparable properties.
Assessments in Richland County currently stand at 33.25% of market value based on sales data from 2022 through 2024. The multiplier for last year was also set at 1.0000 after a tentative factor was issued and reviewed during a public hearing earlier this year.
A change in the equalization factor does not necessarily result in higher or lower total tax bills for residents; rather, tax bills depend on how much money local taxing bodies request each year to provide services. Individual assessed values determine each taxpayer’s share of the overall tax burden but are not altered by changes to the multiplier itself.
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 department focuses on fairly administering state tax laws and efficiently collecting revenues while providing accurate information according to its official website. It also serves as a state agency dedicated to promoting diversity and equity in its operations according to its official site, oversees collection of state taxes and delivers reliable financial information according to its official website, and operates within state taxation and revenue management as detailed on its official website.
