Equalization Factors


                     2021 Summary Statistics for Township Equalization  

Township

Adjusted Median
3 Year
Average
Level of
Assessment
2021
Final
Multiplier

 2022
Multiplier
(* = Tentative)

2018 2019  2020

 
Antioch 32.99 32.61 31.30 32.30 1.0284
*1.0738
Avon 32.89 32.07 31.36 32.11 1.0510
*1.0618
Benton 34.05 31.15 30.26 31.82 1.0479
*1.0899
Cuba 31.70 33.67 34.13 33.17 1.0031
*1.0205
Ela 32.82 33.76 33.29 33.29 1.0000
*1.0300
Fremont 33.34 32.71 31.76 32.60 1.0283
*1.0491
Grant 33.61 32.27 31.16 32.35 1.0145
*1.0759
Lake Villa 33.38 32.67 31.15 32.40 1.0331
*1.0766
Libertyville 32.92 33.53 33.29 33.25 1.0171
*1.0246
Moraine 32.55 33.80 33.43 33.26 1.0000
*1.0399
Newport 33.60 31.96 32.13 32.56 1.0238
*1.0738
Shields 31.93 33.75 35.11 33.60 .9945
*1.0100
Vernon 32.59 33.67 34.09 33.45 .9966
*1.0149
Warren 33.31 32.52 31.76 32.53 1.0252
*1.0581
Wauconda 32.33 31.14 31.53 31.67 1.0492
*1.0578
Waukegan 32.91 30.72 28.68 30.77 1.0734
*1.1125
West Deerfield 32.83 33.37 33.95 33.38 .9979
*1.0468
Zion 33.16 31.05 29.36 31.19 1.0632
*1.1073

     

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, 2021. In analyzing the sales from the three previous years (2018, 2019, 2020) 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 2020