|
Will County SOA Equalization Factors
|
PIN Starts with:
|
Township
|
Factor
|
Property
Class
Applied To
|
| 01- |
Wheatland |
1.0000 |
All |
| 02- |
DuPage |
1.0000 |
All |
| 03- |
Plainfield |
0.9800 |
Residential and Farm Only |
| 04- |
Lockport |
1.0000 |
All |
| 05- |
Homer |
1.0000 |
All |
| 06- |
Troy |
0.9575 |
Residential Only |
| 07- |
Joliet |
1.0000 |
All |
| 08- |
New Lenox |
1.0000 |
All |
| 09- |
Frankfort |
1.0000 |
All |
| 10- |
Channahon |
1.0000 |
All |
| 11- |
Jackson |
1.0000 |
All |
| 12- |
Manhattan |
1.0000 |
All |
| 13- |
Green Garden |
0.9300 |
Residential and Farm Only |
| 14- |
Monee |
1.0000 |
All |
| 15/16- |
Crete |
0.9250 |
Residential and Farm Only
|
| 17- |
Wilmington |
0.9600 |
Residential and Farm Only
|
| 18- |
Florence |
0.9350 |
Residential and Farm Only
|
| 19- |
Wilton |
0.9350 |
Residential and Farm Only
|
| 20- |
Peotone |
0.9400 |
Residential and Farm Only |
| 21- |
Will |
0.9375 |
Residential and Farm Only |
| 22/23- |
Washington |
0.9875 |
Residential Only
|
| 24/25- |
Reed |
1.0000 |
All |
| 24/25- |
Custer |
0.9350 |
Residential and Farm Only |
| 24/25- |
Wesley |
0.9425 |
Residential and Farm Only
|
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. Equalization of assessed values is important (and performed) at each level of government - township, county and state. Chief County Assessment Officers (CCAO), County Boards of Review and the State possess certain powers to equalize assessments.
In Will 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, 2011. In analyzing the sales from the three previous years (2008, 2009, 2010) 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 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.
PUB-136-.pdf Property Assessment and Equalization information provided by the Illinois Department of Revenue. |