Will County Gazette

Will County has received a tentative property assessment equalization factor of 1.0000 for 2025, according to David Harris, director of the Illinois Department of Revenue (IDOR). The equalization factor, also known as the "multiplier," is used to ensure uniform property assessments across counties in Illinois.

This process is necessary because many of the state's 6,600 local taxing districts, such as school districts and fire protection districts, cross county lines. Without a consistent approach to property assessment, taxpayers with similar properties could face unequal tax burdens.

Illinois law requires that most property be assessed at one-third of its market value. Farm properties are handled differently: homesites and dwellings are subject to regular assessment and equalization procedures, while farmland and farm buildings are assessed based on productivity standards.

The IDOR determines the equalization factor for each county by comparing the sales prices of properties over the previous three years with their assessed values as determined by county officials. When the three-year average level of assessment matches one-third of market value, the multiplier is set at 1.0000. If assessments are higher or lower than this benchmark, the multiplier is adjusted accordingly.

For Will County, assessments were found to be at 33.46% of market value based on sales from 2022, 2023, and 2024. The tentative multiplier will apply to taxes for 2025, payable in 2026. Last year’s multiplier for Will County was also 1.0000.

The tentative factor may change if the County Board of Review takes actions that significantly affect county assessments or if new data suggests IDOR’s estimates should be revised. A public hearing will be held between 20 and 30 days after publication of the tentative multiplier in a local newspaper.

A change in the multiplier does not automatically lead to an increase or decrease in total property tax bills. Tax bills are determined by how much money local taxing bodies request each year for services. If these requests do not exceed those from the previous year, overall property taxes will not rise even if assessments change.

The assessed value for each individual property determines its share of the overall tax burden. The use of a multiplier does not alter an individual taxpayer's proportionate responsibility.