Equalization Factors

WHAT IS TOWNSHIP EQUALIZATION?

The Supervisor of Assessments is required by law to equalize all townships to 33.33% of market value. The County Assessor must calculate township medians using an adjusted 3-year average median level of assessments. The ratios are calculated by dividing the sale price of property by the assessed value of the preceding year. Using a complicated calculation process, an equalization factor is determined for each township. The Supervisor of Assessments sends current year "Notice of Assessment Change" (for taxes payable the following year) to each taxpayer experiencing a physical assessment change. This notice should be read very carefully because it contains valuable and necessary information for taxpayers and, if necessary, complaint procedures. At this time the Supervisor of Assessments also publishes the changes made in assessments and a list of the township equalization factors applied to all non-farm assessments.

Equalization Factors