How much variation in assessments exists among the counties?
In Lake County, the level of assessment is generally very close to 33.33%. Counties that do not achieve the statutory level will receive a State-issued factor other than 1.0000 to bring assessments, on average, to 33 1/3 % of market value. In recent years, Lake County has had a factor other than one due to the high volume of appeals, coupled with valuation change requests submitted by local assessing officials.

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1. What is equalization?
2. Who has authority to equalize?
3. How much variation in assessments exists among the counties?
4. How does the equalization factor affect the assessment on a taxpayer's property?