Macon Reporter

DeWitt County has been assigned a final property assessment equalization factor of 1.0000, confirmed by David Harris, director of the Illinois Department of Revenue (IDOR). Also known as the "multiplier," this factor ensures uniform property assessments between counties, which is essential given some local taxing districts, such as school and fire protection districts, cover multiple counties. Without this equalization, similar properties could face unequal tax responsibilities.

Illinois law mandates property assessments at one-third of their market value. However, farm properties have different rules. Farm homesites and dwellings undergo regular assessment and equalization procedures, while farmland is assessed at one-third of its agricultural economic value and is not subject to the state equalization factor.

In DeWitt County, properties were assessed at 33.32% of their market value based on sales data from 2021 to 2023. The current equalization factor applies to 2024 taxes, payable in 2025. The previous year's equalization factor was also 1.0000.

After a public hearing, this final factor was determined by comparing property sale prices over the past three years with their assessed values by the county assessor. If the three-year average assessment is one-third of the market value, the equalization factor is one. A higher average reduces the factor, while a lower average increases it.

Changes in the equalization factor do not inherently alter total property tax bills, which are established by local taxing authorities based on the funds they request for community services. Property tax amounts only change if local requests exceed those from the previous year.

The assessed value of each property dictates the taxpayer's share of the tax responsibility, a portion unaffected by the multiplier.