Press Releases
2019 Randolph County Tentative Multiplier Announced
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). If there were no equalization among counties, substantial inequities among taxpayers with comparable properties would result.
The equalization factor is determined annually for each county by comparing the sales price of individual properties sold over the past three years to the assessed value placed on those properties by the county supervisor of assessments/county assessor.
Assessments in Randolph County are at 33.30 percent of market value, based on sales of properties in 2016, 2017, and 2018.
Last year's equalization factor for the county was 1.1025.
The tentative factor is subject to change (1) if the County Board of Review takes actions which significantly affect the county assessments or (2) if local officials or others can present data showing that the Department of Revenue's estimates of the average level of assessments in the county should be adjusted. A public hearing on the tentative multiplier will be held between 20 and 30 days after the tentative factor is published in a newspaper of general circulation within the county.
The assessed value of an individual property determines what portion of the tax burden a specific taxpayer will assume. That individual's portion of tax responsibility is not changed by the multiplier.
Press Releases