Illinois DOR Announces 2023 Tentative Property Tax Multiplier for Clark County

The Illinois Department of Revenue Oct. 26 announced a tentative property assessment equalization factor (the “multiplier”) for Clark County, for property tax purposes. The announcement includes: 1) the tentative equalization factor is 1.0303 for 2023 taxes payable in 2024; 2) property must be assessed at one-third of its market value; 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 32.35 percent of their market value; and 5) taxpayers’ burdens are determined ...