Effingham County again has a “property assessment equalization factor” of 1.0000, the Illinois Department of Revenue said in a news release.
Commonly known as a multiplier, the factor is used to achieve uniform property assessments among counties, as required by law. Multiplier use is equally important because some of the state’s 6,600 local taxing districts overlap into two or more counties.
A multiplier of 1.0000 shows that the three-year average level of assessment is one-third the market value of property. If the level of assessment was more than one-third market value, the multiplier would be less than 1. A level of assessment less than one-third market value would create a multiplier of more than 1.