About the “Real Estate Tax Equalization Process” currently going on in Madison County.

Recently, the owners of every parcel of real estate in Madison County received a notice where their assessed value had been increased. Every parcel has had, in fact, an “Equalization Factor” imposed. Edwardsville Township’s was 1.0322, meaning the assessed value had been raised by 3.22%. (It’s the same process that was performed in St. Clair county about a year ago, and the subject of our Blog # 12, titled “O’fallon Real Estate Taxes”, which is still posted here.)

First, this is in response to overall studies, township by township which studies almost all flatly claim that properties have been, on the average, under-assessed, hence the need for the adjustment, across the board, to every property. It’s a process that’s legally required in the state of Illinois “quadrennially”…every 4 years, by the County Board of Review, a part of the Treasurer’s office. (It excludes foreclosures and sales of distressed properties, but the law allows that.) It’s supervised by the state.
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"Home Actions" is our newsletter, published every two weeks, that is very much oriented toward "Castle Management"....home and family.   It regularly contains articles on caring for your home and financial management of family finances . We also try to attach a more personal introduction to each letter, telling of news in our practice or our families, and especially, market trends.

Shortly, we'll be archiving all of the articles published in previous issues, making them immediately and openly available, right on our web sites, to any site user. We'll be announcing that soon, but the access will probably be right here in "Castle Management".
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