Assessor's Office of Normal Township

Assessed Value

Assessed Value x Multiplier

- Exemptions

x Tax Rate

= Your Tax Bill

The Multiplier

The State of Illinois requires all counties to be assessed at the statutory level (33 1/3%) of market value. County multipliers (or equalization factors) can be issued by the State Department of Revenue to individual counties within the state to equalize each county to the required level. Township multipliers can be also be issued at the county level by the County Supervisor of Assessments and/or the County Board of Review which forces the individual townships within the county to the required level of assessments. When these multipliers are assigned on the township level, then the multiplier assigned by the state to the county is usually 1.0000 which has no additional impact on the assessment.

Assessment jurisdictions monitor all sales and compare the sale price to assessed value by dividing assessed value by sale price. This creates a ratio that should be near 33.33%. All of the ratios created in a year are then listed from lowest ratio to highest ratio. The center of the list is then found. This center ratio is found for the last three years lists. These three centers (median ratios) are then averaged. If the average is below 33.33, the jurisdiction is considered under assessed, and a multiplier greater than 1.00 is issued to force the average ratio to 33.33. If the average is greater than 33.33, then properties are considered over assessed and a multiplier of less than 1.00 is issued to force the average ratio to 33.33.

Certain properties, including farmland, coal assessments and property assessed by the Department of Revenue (railroad operating property, pollution control facilities, and low sulfur dioxide coal fueled devices) are not subject to equalization.

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