Assessment Level is designed by each County and remains constant.
Assessed Valuation equals market value multiplied by the assessment level.
State Equalization Factor is determined by the Illinois Department of Revenue each year to ensure an equal assessment among all 102 counties in the state.
Equalized Valuation is the assessed valuation multiplied by the equalization factor.
Tax Rate is a figure compiled by each County Clerk and applied to the Equalized Assessed Valuation to determine the amount paid in property taxes. This number reflects requests from area taxing bodies to fund their operations.
This website is for informational purposes only. Using this site or communicating with Law Office of Dennis M. Nolan, P.C. through this site does not form an attorney/client relationship. This site is legal advertising.
Copyright © 2021 Law Office of Dennis M. Nolan, P.C.
Powered by GoDaddy Website Builder