Henry County tax multiplier holds steady

Henry County has been issued a tentative property assessment equalization factor of 1.0000, according to Brian Hamer, 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.

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.

If this three-year average level of assessment is one-third of market value, the equalization factor will be 1. If the average level of assessment is greater than one-third of market value, the equalization factor will be less than 1. And if the average level of assessment is less than

one-third of market value, the equalization factor will be greater than 1.

The equalization factor currently being assigned is for 2009 taxes, payable in 2010. Last year’s equalization factor for the county was 1.0000.