Equalization Factors


                     2022 Summary Statistics for Township Equalization  

Township

Adjusted Median
3 Year
Average
Level of
Assessment
2021
Final
Multiplier

 2022
Multiplier
(* = Tentative)

2019 2020  2021

 
Antioch 33.53 32.19 27.47 31.06 1.0284
1.0717
Avon 33.28 32.55 28.34 31.39 1.0510
1.0404
Benton 32.64 31.71 27.90 30.75 1.0479
1.0261
Cuba 33.77 34.24 30.05 32.69 1.0031
1.0173
Ela 33.76 33.29 29.95 32.33 1.0000
1.0263
Fremont 33.63 32.66 29.06 31.78 1.0283
1.0363
Grant 33.21 32.06 27.67 30.98 1.0145
1.0609
Lake Villa 33.75 32.18 27.04 30.99 1.0331
1.0765
Libertyville 33.58 33.34 30.71 32.54 1.0171
1.0220
Moraine 33.80 33.43 28.90 32.04 1.0000
1.0345
Newport 32.72 32.90 27.79 31.14 1.0238
1.0144
Shields 33.57 34.92 30.46 32.98 .9945
1.0087
Vernon 33.56 33.97 30.93 32.82 .9966
1.0109
Warren 33.33 32.56 28.51 31.47 1.0252
1.0418
Wauconda 32.68 33.08 28.76 31.51 1.0492
1.0583
Waukegan 32.98 30.78 25.80 29.85 1.0734
1.0088
West Deerfield 32.87 33.44 30.12 32.14 .9979
1.0372
Zion 33.01 31.22 26.15 30.13 1.0632
1.0660

     

About Equalization


Equalization is the application of a uniform percentage increase or decrease to assessed values of various areas or classes of property in order to bring assessment levels, on average, to the same percentage of market value. 

In Lake County, on an annual basis the Chief County Assessment Officer determines the level of assessment in each township based upon the sales transactions that have occurred in the three years prior to the assessment date. This year's assessment valuation data is January 1, 2022. In analyzing the sales from the three previous years (2019, 2020, 2021) the CCAO takes the median level of assessment for each of those years, averages those medians, to determine the adjustment in assessments required in a township. Once the assessor has completed their assessment roll for the year, the CCAO analyzes the changes in assessments by class (residential, commercial and industrial) and determines what further adjustments are needed in a township, by applying a township multiplier to all non-farm parcels in the jurisdiction.

The Equalization Process


The equalization process is intended to bring the three year average of the median assessment levels in a township to 33.33% of market value, which is our statutory requirement in Illinois. Once the Lake County Board of Review has finalized its work in a given tax year, the Illinois Department of Revenue then takes on its role in performing equalization that is applicable to the entire county.

Illinois Department of Revenue Publication 136 (PDF)

Sales Ratio Studies

PTAX-215 - Assessment Ratios Adjusted for Changes through 2021