Illinois DOR Announces 2022 Final Property Tax Multiplier for Stephenson County

The Illinois Department of Revenue (DOR) April 11 announced Stephenson County’s final property assessment equalization factor, also called the “multiplier,” for property tax purposes. The announcement includes: 1) the final equalization factor is 1.0000 for 2022 taxes payable in 2023; 2) the equalization factor is used to achieve uniform property assessments among counties; 3) sale prices of individual properties sold in the past three years are compared to the assessed values placed on those properties to determine the equalization factor annually for each county; 4) assessments in the county are at 33.44 percent of market value; and 5) taxpayers’ burdens ...