Montgomery County has been assigned a final property assessment equalization factor of 1.0000, David Harris, director of the Illinois Department of Revenue, announced on May 1.
The equalization factor, also known as the “multiplier,” is used to ensure uniform property assessments across counties in Illinois. This process is important because many local taxing districts span more than one county. Without this equalization, taxpayers with similar properties could face significant disparities in their tax burdens.
Under Illinois law enacted in 1975, most property should be assessed at one-third of its market value. Farm homesites and dwellings follow standard assessing procedures and are subject to the state equalization factor. However, farmland itself is assessed at one-third of its agricultural economic value and does not use the state multiplier.
According to Harris, “Assessments in Montgomery County are at 33.46% of market value, based on sales of properties in 2022, 2023, and 2024.” The current factor applies to taxes payable in 2026; last year’s multiplier was also set at 1.0000. The department finalized this year’s assessment after holding a public hearing on a tentative factor issued earlier this year.
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 agency focuses on fairly administering state tax laws and efficiently collecting revenues while providing accurate information according to its official website. It serves as a state agency dedicated to promoting diversity and equity according to its official site, oversees collection of state taxes while delivering reliable financial information according to its official website, and operates within state taxation and revenue management as detailed on its official website.
A change in the multiplier does not automatically mean that total property tax bills will rise or fall; those amounts depend on what local taxing bodies request each year for services provided locally. Individual taxpayers’ share is determined by their property’s assessed value but is not changed by the application of the multiplier.
