Illinois DOR Announces 2022 Tentative Property Tax Multiplier for Grundy County

The Illinois Department of Revenue Jan. 10 announced Grundy County’s 2022 tentative property assessment equalization factor, also called the “multiplier,” for property tax purposes. The announcement includes: 1) the equalization factor is 1.0000 for 2022 taxes payable in 2023; 2) property must be assessed at one-third of its market value according to state law; 3) the equalization factor is determined annually for each county by comparing the sale prices of individual properties sold in the past three years to the assessed values of those properties; 4) assessments in the county are at 33.37 percent of their market value; and 5) ...