Peotone Township Property Tax Multiplier Set at 1.0765, Revision Notices to be Mailed in August

Peotone Township Board Meeting | July 21, 2025

Article Summary: Peotone Township Assessor Virginia Gates-Hamann announced the final property tax equalization factor, or multiplier, for the upcoming year will be 1.0765, a figure used to ensure assessment uniformity. Township property owners will receive formal Property Tax Revision Notices reflecting this change in August.

Peotone Property Tax Key Points:

• The township’s property assessment multiplier has been set at 1.0765 by the State of Illinois Board of Review.

• Assessor Virginia Gates-Hamann reported the figure during the township board’s July 21 meeting.

• Property Tax Revision Notices containing updated assessment information will be mailed to township property owners in August.

PEOTONE, IL – Peotone Township property owners will soon see a new state-issued multiplier applied to their property assessments, the township board learned on Monday, July 21, 2025.

During her report to the board, Peotone Township Assessor Virginia Gates-Hamann announced that the State of Illinois Board of Review has set the township’s final property tax equalization factor, commonly known as the multiplier, at 1.0765 for the upcoming year.

A multiplier is a tool used by the state to ensure that property assessments are uniform and equitable across a township, meeting the legally mandated level of 33.33% of market value. If a three-year analysis of property sales shows that assessments in a township are below this level, a multiplier greater than 1.0 is applied to bring them into compliance.

According to the meeting minutes, Gates-Hamann confirmed that Property Tax Revision Notices will be mailed out to all township property owners in August. These notices will inform residents of the changes to their property’s assessed value as a result of the new multiplier and provide information on the appeals process for those who believe their assessment is incorrect.