Equalization Factors


                     2019 Summary Statistics for Township Equalization  

Township

Adjusted Median
3 Year
Average
Level of
Assessment
2018
Final
Multiplier
 2019
Final
Multiplier

2016 2017  2018

 
Antioch 33.63 30.75 29.67 31.35 1.0506 1.0345
Avon 32.94 31.54 29.76
31.41 1.0631 0.9861
Benton 34.08 31.72 31.25
32.35 1.0630 1.0214
Cuba 33.36 32.26 31.05 32.56 1.0205 1.0837
Ela 33.08
33.17 32.76 33.00 1.0122 1.0040
Fremont 32.61 32.49 31.54 32.21 1.0325 0.9983
Grant 33.06 31.17 30.58
31.60 1.0819 1.0153
Lake Villa 34.05 32.26 31.14 32.48 1.0274 1.0156
Libertyville 33.05 32.98 31.93
32.65 1.0326 1.0053
Moraine 33.20 33.29 33.88
33.46 1.0058 1.0263
Newport 32.77 32.40 31.48 32.22 1.0189 1.0000
Shields 32.65 32.45 32.39 32.50 1.0170 1.0358
Vernon 32.95 32.19 32.14 32.43 1.0239 1.0381
Warren 33.38 32.29 31.39 32.35 1.0295 1.0169
Wauconda 33.15 34.20 30.11
32.49 1.0117 0.9879
Waukegan 32.67 29.63 26.90 29.73 1.1303 1.0140
West Deerfield 32.67 33.45 34.52 33.55 1.0032 1.0283
Zion 33.40 30.78 28.72 30.97 1.0780 1.0000

     

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, 2019. In analyzing the sales from the three previous years (2016, 2017, 2018) 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 2018