The Illinois Department of Revenue (IDOR) has set the 2024 property assessment equalization factor, or "multiplier", for Jackson County at 1.0165, up slightly from last year’s figure of 1.0000.
The multiplier ensures uniform property assessments across Illinois counties, especially for regions that share funding responsibilities for services like schools and fire protection, according to the Illinois Department of Revenue (IDOR). The adjustment does not directly raise or lower property tax bills. Final tax amounts are determined by local taxing bodies based on their budget needs.
Illinois law mandates that most properties be assessed at one-third of their market value. However, Jackson County assessments came in at 32.79%, based on a three-year review of property sales. This discrepancy prompted the updated multiplier to bring assessments closer to the state standard. Farmland is assessed differently, using a mix of market value and agricultural economic factors. The updated multiplier will affect 2024 property taxes, payable in 2025. For more information, residents are encouraged to consult the IDOR or their local tax office.
