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Final 2017 Cook County Equalization Factor Released

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June 1, 2018

By Ares Dalianis 

The Illinois Department of Revenue has released the final 2017 Cook County equalization factor. The multiplier for 2017 is 2.9627. The press release from the Department of Revenue is available here

As the following chart demonstrates, the final Cook County equalization factors have been on a bit of a rollercoaster ride for the past dozen years, with 2009 being the peak year and factors trending downward and then upward since then.

Tax Year

Final Multiplier

2004

2.5757

2005

2.7320

2006

2.7076

2007

2.8439

2008

2.9786

2009

3.3701

2010

3.3000

2011

2.9706

2012

2.8056

2013

2.6621

2014

2.7253

2015

2.6685

2016

2.8032

2017

2.9627

            
                
The Property Tax Code requires the Department to issue a multiplier that, when applied to the assessed value of all property in a county (except for specially assessed property such as farmland), will result in the aggregate assessed value of all property in the County being 33.33% of the property’s fair cash value.  This equalization of assessed values is accomplished by comparing recorded sales prices to assessed values for the three prior years, and it is done in an effort to implement property tax limitations and certain state funding programs fairly.

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