The Illinois Department of Revenue (IDR) has issued a final property assessment equalization factor of .9477 for Lawrence County.
The property assessment equalization factor, also known as the "multiplier" is the method used to achieve uniform property assessments among counties as required by Illinois law. Property in Illinois is assessed at 1/3 of its market value. Farm property in Illinois is assessed differently. Assessments in Lawrence County are at 35.17% of market value, based on the sales of properties in the years 2021. 2022 and 2023.
The final factor was issued by the IDR after a required public hearing. The equalization factor currently being assigned is for 2024 taxes, payable in 2025. The 2024 equalization factor for the county was 1.000.
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