White County Final Multiplier for 2024 Property Assessments Announced
Springfield, IL – The Illinois Department of Revenue (IDOR) has officially announced the final property tax multiplier for White County for the 2024 assessment year. This important figure, set at 1.0000, confirms the county’s compliance with state equalization standards and ensures fairness in the property tax system for all residents.
The multiplier, also known as the equalization factor, is a crucial component of the property tax assessment process. It is applied to individual property assessments to ensure that all properties within a county are assessed at a uniform level, typically 33 1/3% of their market value. When a county’s average assessment level deviates from this statewide benchmark, IDOR intervenes by issuing a multiplier to bring the assessments back into alignment.
In the case of White County for the 2024 assessment year, the final multiplier of 1.0000 indicates that the county’s property assessments are already in line with the state’s requirement. This means that, on average, properties in White County are being assessed at the desired 33 1/3% of their estimated market value, and no upward or downward adjustment is needed to achieve equalization.
This announcement is significant for both property owners and local taxing bodies. For homeowners and businesses, a multiplier of 1.0000 signifies that their individual property assessments, as determined by the local assessor, will not be artificially increased or decreased by the state to achieve equalization. The final tax bill will be based on the assessed value as determined by the local assessor, adjusted by any applicable exemptions.
For local taxing districts, such as school districts, municipalities, and park districts, this outcome means that the foundation for their property tax revenues remains consistent with the assessed values as initially reported. It avoids any unforeseen adjustments that could impact budget planning and service delivery.
The IDOR regularly reviews assessment levels across all Illinois counties to uphold the principle of fairness and equity in property taxation. The announcement of the final multipliers is a culmination of a thorough process that involves analyzing assessment data and working collaboratively with local assessment officials.
Residents seeking further clarification on their individual property assessments or the role of the multiplier are encouraged to contact the White County Supervisor of Assessments office. They can provide specific details regarding individual property values and the impact of exemptions.
2024 White County Final Multiplier Announced
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