Equalization Factors


 2016 Summary Statistics for Township Equalization

Township

Adjusted Median

Sale Counts Used in Study
3 Year Average Level of Assessment 2016 
Tentative Multiplier
2016 Final Multiplier

2013 2014 2015 2013 2014 2015


Antioch 33.51 31.81 32.13 272 330 393 32.48 1.0261 1.0261
Avon 33.15 30.03 28.17 524 605 680 30.45 1.0946 1.0946
Benton 32.39 31.09 28.22 117 134 138 30.57 1.0904 1.0904
Cuba 32.73 30.48 30.57 272 205 286 31.26 1.0662 1.0662
Ela 33.17 31.33 30.74 568 547 599 31.75 1.0499 1.0499
Fremont 32.83 30.82 30.09 333 344 410 31.25 1.0667 1.0667
Grant 35.13 29.71 28.47 251 301 332 31.10 1.0716 1.0716
Lake Villa 33.49 30.53 29.37 384 405 466 31.13 1.0707 1.0707
Libertyville 33.57 30.55 29.34 702 643 659 31.15 1.0699 1.0699
Moraine 33.57 29.70 29.63 432 430 407 30.97 1.0763 1.0763 
Newport 32.51 30.73 31.19 45 54 61 31.48 1.0589 1.0589
Shields 33.34 29.91 30.90 262 236 258 31.38 1.0620 1.0620
Vernon 33.10 30.56 29.84 875 843 934 31.17 1.0693 1.0693
Warren 33.61 31.02 30.20 616 613 728 31.61 1.0544 1.0544 
Wauconda 32.64 30.77 28.38 208 248 244 30.60 1.0893 1.0893
Waukegan 34.21 29.35 25.93 340 385 400 29.83 1.1173 1.1173
West Deerfield 33.07 30.45 30.43 450 377 365 31.32 1.0643 1.0643
Zion 33.90 29.47 27.36 123 127 173 30.24 1.1021 1.1021

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, 2016. In analyzing the sales from the three previous years (2013, 2014, 2015) 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