What happens if township equalization factors (multipliers) are not applied at the county level?

If the local assessor has not reassessed individual properties to the required level and the County Assessor and Board of Review do not apply equalization factors to adjust the county to the state required level – the State Department of Revenue will issue required factors to the County Clerk who must apply them at their level prior to extending (calculating) taxes.

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1. What is an equalization factor (multiplier)?
2. Why does state law require equalization factors?
3. Who does these studies?
4. What information is used for these studies?
5. What years sales will be used for 2016 assessments?
6. What factors influence equalization factors (multipliers)?
7. What happens if township equalization factors (multipliers) are not applied at the county level?
8. Does an equalization factor automatically increase or decrease taxes?
9. Does an increase in equalization factor usually result in an increase in an individual’s tax bill?
10. How do I know if an equalization factor has been applied to my property?
11. Does farm land receive a multiplier based on sales of farm property?
12. If I have additional questions?