The Illinois Department of Revenue has announced a final 2022 property assessment equalization factor of 1.0 for Marion County.
That means there will be no change in the equalization done earlier by Marion County Supervisor of Assessments Mark Miller who put a countywide multiplier on the assessments that raised then seven percent.
Miller took the action to bring the assessments in Marion County to 33.38 percent of market value, based on sales of properties in 2019, 2020, and 2021. He said at the time the big increase was needed because of the higher prices homes were selling.
The Illinois Department of Revenue says a change in the equalization factor does not mean total property tax bills will increase or decrease. That is determined by the local taxing body when they request money each year to provide services to local citizens. If the amount requested by local taxing districts is not greater than the amount received in the previous year, then total property taxes will not increase even if assessments increase.
