Higher Real Estate Equalized Assessed Valuation (EAV)
Page 3 of the Freeburg Tribune, Thursday, March 2nd edition, has an article that details the township multipliers for the twenty two townships in St. Clair county. Township multipliers are computed by determining that average sales price of real estate in each township with the current EAV. If the current EAV is less than one-third of the sampled sales, the multiplier is raised to make the EAV equal one-third of the sales prices.
The article indicates “higher real estate tax bills” is misleading. Your tax bill is computed by dividing the amount of taxes levied by the taxing body by the EAV of the taxing body. The total taxes received by the taxing body does not change from the levy amount.
Most of the 22 townships have multipliers of 5% or higher. I find it incredible that the fastest growing township in the county, O’Fallon Township, is the only township that has a multiplier of less than 1 (.9968). The community that has the highest growth and greatest real estate demand has decreasing real estate values. This is truly counter intuitive.
If you have additional questions, the county has directed you to the county board member. You can contact that member by calling the county board office at 618-825-2200. Please feel free to contact me direct as well at (618) 604-3262. I might be able to answer your questions