Lawrence County’s Tentative 2024 Property Tax Multiplier Announced
Springfield, IL – The Illinois Department of Revenue (IDOR) has officially announced the tentative 2024 property tax multiplier for Lawrence County. This announcement, made on July 8, 2025, is a significant step in the annual property tax assessment process, impacting the valuation of properties and subsequently, the tax bills for residents and businesses across the county.
The property tax multiplier, also known as the equalization factor, is applied by the Department of Revenue to ensure that property assessments within a county are uniform and reflect 33 1/3% of the property’s fair market value. This process is crucial for fairness and equity across different taxing districts within the county, such as school districts, municipalities, and fire protection districts, ensuring that the tax burden is distributed proportionally.
While the exact multiplier value is not detailed in the initial announcement, its release signifies that the county’s assessment levels are being reviewed and adjusted to meet state-mandated standards. Local assessors are responsible for assessing individual properties, but the Department of Revenue’s multiplier plays a vital role in bringing all assessments to the required percentage of market value.
What Does This Mean for Lawrence County Residents?
The tentative multiplier is a preliminary figure, and the final multiplier will be determined after a period of review and potential adjustments. It’s important for property owners to understand that the multiplier itself does not directly increase or decrease taxes. Instead, it ensures that the assessed value of properties accurately reflects their market value relative to other properties in the county.
The actual property tax bill is determined by several factors, including:
- The assessed value of your property: This is the value placed on your property by the local assessor.
- The property tax multiplier (equalization factor): This factor is applied to the assessed value to achieve uniformity across the county.
- The tax rates set by local taxing bodies: These rates are determined by the budgets of your local government entities.
Next Steps in the Process:
Following this tentative announcement, property owners in Lawrence County will have an opportunity to review the information and, if necessary, present any concerns or evidence to the County Board of Review. This period of review is designed to ensure accuracy and fairness in the assessment process.
The final 2024 property tax multiplier for Lawrence County will be published after this review period. The Illinois Department of Revenue encourages residents to stay informed by monitoring official communications from the IDOR and the Lawrence County Assessor’s office.
This announcement is a routine part of the state’s property tax administration, aimed at maintaining a fair and equitable system for all property owners.
2024 Lawrence County Tentative Multiplier Announced
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