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In Brief: Business
2020 Stephenson County final multiplier announced
FREEPORT Stephenson County has been issued a final property assessment equalization factor of 1.0000, according to David Harris, director of the Illinois Department of Revenue.
The property assessment equalization factor, often called the multiplier, is the method used to achieve uniform property assessments among counties, as required by law. Assessments in Stephenson County are at 33.44% of market value, based on sales of properties in 2017, 2018 and 2019.
The equalization factor currently being assigned is for 2020 taxes, payable in 2021. Last year s equalization factor for the county was 1.0000.
The final assessment equalization factor was issued after a public hearing on the tentative factor. The tentative factor issued in March 2021 was 1.0000.