Iroquois County has received a final property assessment equalization factor of 1.0000 for the 2025 tax year, according to David Harris, director of the Illinois Department of Revenue (IDOR). The multiplier is used to ensure uniform property assessments across counties in Illinois, which is necessary because many of the state’s local taxing districts span more than one county.
“The property assessment equalization factor, often called the ‘multiplier,’ is the method used to achieve uniform property assessments among counties, as required by law. This equalization is particularly important because some of the state’s 6,600 local taxing districts overlap into two or more counties (e.g., school districts, junior college districts, fire protection districts). If there was no equalization among counties, substantial inequities among taxpayers with comparable properties would result,” Harris said.
State law mandates that most property in Illinois be assessed at one-third of its market value. Farm properties are treated differently; homesites and dwellings follow regular assessing and equalization procedures while farmland itself is assessed at one-third of its agricultural economic value and not subject to the state equalization factor. In Iroquois County, assessments are currently at 33.23% of market value based on sales from 2022 through 2024.
The new multiplier applies to taxes payable in 2026 and matches last year’s figure for Iroquois County. The final figure was issued after a public hearing on a tentative factor set on December 18, 2025.
The annual determination of this factor involves comparing recent sale prices with assessed values over a three-year period. If average assessments match one-third of market value, the multiplier is set at one. It decreases below one if average assessments exceed this threshold and rises above one if they fall short.
A change in the multiplier does not directly affect total property tax bills. Local taxing bodies determine tax bills by setting annual revenue requests based on service needs for citizens. If these requests do not increase compared to previous years, overall taxes remain unchanged even if assessments rise.
The share of taxes paid by an individual taxpayer depends on their property’s assessed value relative to others in their area; this proportion remains unaffected by changes in the multiplier.
The Illinois Department of Revenue manages these processes as part of its responsibilities within state taxation and revenue management official website. The agency also aims to foster diversity and equity among employees and customers official site while focusing on fair administration and accurate information delivery official website.
