The Illinois Department of Revenue announced on Apr. 1 that Knox County has received a final property assessment equalization factor, or multiplier, of 1.0000 for the year 2025.
The equalization factor is used to ensure uniform property assessments across counties in Illinois, which is important because many local taxing districts span more than one county. Without this process, taxpayers with similar properties could face unequal tax burdens.
David Harris, director of the Illinois Department of Revenue (IDOR), said the new multiplier was determined after reviewing sales data from properties sold in Knox County during 2022, 2023, and 2024. The department noted that “assessments in Knox County are at 33.40% of market value.” The equalization factor applies to taxes payable in 2026 and matches last year’s figure for the county.
According to the department’s official website, the Illinois Department of Revenue focuses on fairly administering state tax laws and efficiently collecting revenues while providing accurate and timely information according to its official website. The agency also works to foster an inclusive environment that values diversity and equity for employees and customers as stated on its official site.
The IDOR determines each county’s multiplier by comparing three years’ worth of sales prices with assessed values set by local assessors. If average assessments are exactly one-third of market value—as required by law—the multiplier is set at one (1). If assessments deviate from this level, the multiplier adjusts accordingly: below one if over-assessed or above one if under-assessed.
A change in the equalization factor does not automatically affect total property tax bills; these depend on how much money local taxing bodies request each year for services provided to citizens. An individual’s share of taxes depends on their property’s assessed value but does not change due to adjustments in the multiplier itself.
The Illinois Department of Revenue operates within state taxation and revenue management as detailed on its official website, overseeing collection processes and delivering reliable financial information according to its official website. The agency continues efforts toward promoting diversity and equity within its operations according to its official site.
