Page 5 - Equalized Assessed Value News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Galesburg City Council is going through their annual fall into winter tradition of finalizing next year's spending plan. The Council has until December to finalize the FY22 budget. City Manager Todd Thompson says even though the budget is thought of as a single document it's really a series of budgets for different departments and programs. He says the past two budgeting years were unusual, but 2020 and '21 saw better revenues than expected. Administration is recommending a 2.5 percent increase in the property tax levy or about $190,000 more than last year. That increase amo...

By Benjamin Cox on April 13, 2021 at 5:39pm The Morgan County property tax multiplier has been set at 1.0233 by 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.  This equalization is particularly important because some of the state’s 6,600 local taxing districts overlap into two or more counties (e.g. school districts, junior college districts, fire protection districts). IDOR says if there were no equalization amo...

As the new year begins, the Village of Lansing is sensitive to the property tax issues many businesses are facing, and plans to use an online portal to...