Equalization Factors


                     2022 Summary Statistics for Township Equalization 

 Township

Adjusted Median 
 3 Year 
 Average
 Level of 
 Assessment
2022
 Final
 Multiplier

 2023
 Multiplier
 (* = Tentative)

2019 2020 2021

 
 Antioch 33.5332.1927.4731.061.0717*1.1114
 Avon 33.2832.5528.3431.391.0404
*1.0949
 Benton 32.6431.7127.9030.751.0261
*1.0885
 Cuba 33.7734.2430.0532.691.0173
*1.0710
 Ela 33.7633.2929.9532.331.0263
*1.0825
 Fremont 33.6332.6629.0631.781.0363
*1.0903
 Grant33.2132.0627.6730.981.0609
*1.0996
Lake Villa 33.7532.1827.0430.991.0765
*1.1103
 Libertyville 33.5833.3430.7132.541.0220
*1.0676
 Moraine33.8033.4328.9032.041.0345
*1.1011
 Newport 32.7232.9027.7931.141.0144
*1.0850
 Shields 33.5734.9230.4632.981.0087
*1.0724
 Vernon 33.5633.9730.9332.821.0109
*1.0707
 Warren 33.3332.5628.5131.471.0418
*1.0874
 Wauconda 32.6833.0828.7631.511.0583
*1.0821
 Waukegan32.9830.7825.8029.851.0088
*1.1106
 West Deerfield 32.8733.4430.1232.141.0372
*1.0676
 Zion 33.0131.2226.1530.131.0660
*1.1310

   

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

PTAX-215 - Assessment Ratios Adjusted for Changes through 2021 - Revised