Equalization Factors


  
 2018 Summary Statistics for Township Equalization

Township

Adjusted Median

Sale Counts Used in Study
3 Year Average Level of Assessment 2017 Final Multiplier  2018 
Tentative Multiplier
2018 Final Multiplier

2015 2016 2017 2015 2016 2017 
 

Antioch 34.16 32.01 29.27 393 430 441 31.81 1.0362 1.0506 1.0506
Avon 33.40 30.98 29.67 680 836 922 31.35 1.0833 1.0631 1.0631
Benton 32.32 32.06 29.84 138 188 217 31.41 1.0504 1.0630 1.0630
Cuba 32.83 33.12 32.03 286 317 307 32.66 1.0392
1.0205 1.0205
Ela 33.33 32.68 32.77 599 606 595 32.93 1.0327 1.0122 1.0122
Fremont 33.79 31.58 31.47 410 421 448 32.28 1.0529 1.0325 1.0325
Grant 32.39 30.90 29.13 332 416 448 30.81 1.0934 1.0819 1.0819
Lake Villa 32.78 33.14 31.40 466 575 620 32.44 1.0422 1.0274 1.0274
Libertyville 33.11 32.40 31.35 659 737 741 32.29 1.0547 1.0326 1.0326
Moraine 32.57 33.38 33.46 407 445 438 33.14 1.0504 1.0058 1.0058
Newport 34.17 32.17 31.80 61 59 83 32.71 1.0346 1.0189 1.0189
Shields 33.48 32.60 32.39 258 284 283 32.82 1.0506 1.0170 1.0170
Vernon 33.33 32.54 31.79 934 1021 1024 32.55 1.0443 1.0239 1.0239
Warren 33.33 32.42 31.37 728 796 855 32.37 1.0466 1.0295 1.0295
Wauconda 32.26 32.77 33.80 244 310 350 32.94 1.0560 1.0117 1.0117
Waukegan 33.34 28.90 26.22 400 505 484 29.49 1.1508 1.1303 1.1303
West Deerfield 32.76 33.06 33.85 365 368 411 33.22 1.0393 1.0032 1.0032
Zion 33.22 30.98 28.55 173 227 273 30.92 1.1016 1.0780 1.0780
 

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, 2018. In analyzing the sales from the three previous years (2015, 2016, 2017) 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 2017