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State keeps La Salle County’s tentative property tax multiplier at 1.0000 · Illinois Valley - Shaw Local

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  State keeps LaSalle County's tentative property tax multiplier at 1.0000. Written
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  by Michael Urbanac This article is being read by an automated voice,
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  brought to you by Everlet. LaSalle County's tentative property assessment equalization
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  factor, known as the multiplier, is one point zero zero zero zero
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  for twenty twenty six taxes payable in twenty twenty seven, according to
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  they Illinois Department of Revenue. Than matches last last year, factor. The
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  multiplier alone does not raise or lower anyone's tax bill, according to
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  the department. Local taxing bodies set bills when they request money each
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  year. If they ask for no more than they received the previous
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  year, total property taxes will not rise, even if assessments do. The
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  department found assessments in LaSalle County at 33.14 of market value based
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  on property sales in 2023, 2024, and 2025. State law requires
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  property to be assessment at one-third of market value. The factor is
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  tentative It could change if the County Board of Review takes actions
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  that significantly affect assessments, or if local officials or others present data
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  showing the department.
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  Estimate of the county's assessment level should be adjusted. A public hearing
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  on the tentative multiplier will be held 20-30 days after the factor
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  is published in a newspaper of general circulation in the county, according
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  to the department. The state sets a multiplier for each county every
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  year by comparing the sale prices of properties sold over The past
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  three years with the assessed values that county assessment officials placed on
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  them. When assessments average one-third of market value, the factor is 1.0000.
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  Assessments above that level produce a factor below one. Assessments below it
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  produce a factor above one. The department said equalization is required by
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  law because some of the state's 6,600 local taxing districts, such as
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  school, junior college, and fire protection districts, cross county lines. Without it,
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  owners of comparable properties in different counties would face substantial inequities. The
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  multiplier does not change an individual owner's share of the tax burden.
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  That share is set by the assessed value of the property, according
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  to the department. Farmland and farm buildings are assessed under productivity based
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  standards. Farm, home sites, and dwellings go through regular assessment and equalization.