Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/9-210

(35 ILCS 200/9-210)

Sec. 9-210.

Equalization by chief county assessment officer; counties
of less than 3,000,000.  The chief county assessment officer in a county with
less than 3,000,000 inhabitants shall act as an equalizing authority for each
county in which he or she serves.  The officer shall examine the assessments in
the county and shall equalize the assessments by increasing or reducing the
entire assessment of property in the county or any area therein or of any class
of property, so that the assessments will be at 33 1/3% of fair cash value. The
equalization process and analysis described in this Section shall apply to all
property except farm and coal properties assessed under Sections 10-110 through
10-140 and 10-170 through 10-200.

For each township or assessment district in the county, the supervisor of
assessments shall annually determine the percentage relationship between the
estimated 33 1/3% of the fair cash value of the property and
the assessed valuations at which the property is listed for each township,
multi-township or assessment district.  To make this analysis, he or she shall
use property transfers, property appraisals, and other means as he or she deems
proper and reasonable.

With the ratio determined for each township or assessment district,
the supervisor of assessments shall then determine the percentage to be
added to or deducted from the aggregate assessments in each township or
assessment district, other than property assessed under Sections 10-110 through
10-140 and 10-170 through 10-200, in order to produce a ratio of assessed value
to fair cash value of 33 1/3%. That percentage shall be issued as an
equalization factor for each township or assessment district within each county
served by the chief county assessment officer. The assessment officer shall
then change the assessment of each parcel of property by application of the
equalization factor.

(Source: P.A. 88-455; 88-670, eff. 12-2-94.)