County Given Another Negative Multiplier

The Illinois Department of Revenue has issued another negative tentative property assessment multiplier to Bond County for taxes to be paid in 2024.

With 1.0 being no change, Bond County was given a 0.9238 tentative multiplier. Bond County Supervisor of Assessments Georgia Shank said this is good news for property owners because this will drop assessments a little and should result in some lower tax bills.

Last year’s Bond County multiplier was 0.9418.

According to the Department of Revenue, assessments in Bond County are at 36.08 percent of market value, based on sales of properties in 2020, 2021 and 2022.

Illinois law requires property to be assessed at 33.3 percent of its market value. If the three-year sales average of assessment is greater than one-third of market value, like is the case in Bond County, the department issues a negative multiplier.

The Department of Revenue will be holding a public hearing on Bond County’s tentative multiplier in the near future.

The deadlines for the payment of 2023 real estate taxes were about four months later than usual, with the second deadline at the end of January 2024.

Bond County Treasurer Colleen Camp told WGEL the goal is to get closer to how it was in the past, this year going with possible deadlines in August and October, then next year getting back to July and September.

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