SPRINGFIELD, IL, - Rock Island County has been issued a tentative property assessment equalization factor of 1.0000, according to Brian Hamer, Director of the Illinois Department of Revenue.

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.

State law requires property in Illinois to be assessed at one-third (1/3) of its market value. Farm property is assessed differently, with farm homesites and dwellings subject to regular assessing and equalization procedures, but with farmland and farm buildings assessed according to standards based on productivity.

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.

If this three-year average level of assessment is one-third of market value, the equalization factor will be one (1). If the average level of assessment is greater than one-third of market value, the equalization factor will be less than one (1). And if the average level of assessment is less than one-third of market value, the equalization factor will be greater than one (1).

Assessments in Rock Island County are at 33.35 percent of market value, based on sales of properties in 2011, 2012, and 2013.

The equalization factor currently being assigned is for 2014 taxes, payable in 2015.  Last year's equalization factor for the county was 1.0000.

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.

A change in the equalization factor does not mean total property tax bills will increase or decrease. Tax bills are determined by local taxing bodies when they request money each year to provide services to local citizens. If the amount requested by local taxing districts is not greater than the amount received in the previous year, then total property taxes will not increase even if assessments may have increased.

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.

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WASHINGTON D.C. – Senator Tom Harkin (D-IA), announced today that Iowa will receive an initial allocation of nearly $48.5 million to help low-income Iowans meet home energy costs. This funding was made available by language Harkin helped to secure in the fiscal year 2015 Continuing Resolution that passed Congress in September. This funding is part of a total of $3 billion announced today by the U.S. Department of Health and Human Services (HHS) for Low Income Home Energy Assistance Program (LIHEAP) recipients throughout the country. Additional funding will be made available later in the year once a final fiscal year 2015 appropriations bill is enacted. Harkin is the Chairman of the Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies (LHHS subcommittee) that oversees these initiatives.

"No family should have to choose between paying their heating bill and putting food on the table," said Harkin. "Access to LIHEAP provides a safety net for low-income households, especially those with children, people with disabilities, and senior citizens. As temperatures begin to drop across the state, many Iowans will start to feel the effects of higher heating bills and this funding is welcome relief for the thousands of Iowans families that depend upon the program."

Last year, this program provided home heating assistance to approximately 85,000 Iowan households. Read more about Harkin's legacy in fighting for the middle class: http://www.harkin.senate.gov/labor.cfm.

25,000-Square-Foot Expansion Will Allow Tech Hub to Continue to Grow and Create Jobs

CHICAGO - Governor Pat Quinn today was joined by 1871 CEO Howard A. Tullman to officially open a major expansion of the innovative digital startup hub. The $2.5 million expansion, funded by the Illinois Department of Commerce and Economic Opportunity (DCEO), will increase 1871's current size by 50 percent and create space for alumni companies, venture capital firms and several incubators, accelerators and programs. In total, the new space will allow 1871 to house approximately 400 companies within The Merchandise Mart. The announcement is part of Governor Quinn's agenda to create jobs and drive Illinois' economy forward.

"The growth of our technology and innovation sectors are helping to drive Illinois' comeback," Governor Quinn said. "Since its inception, 1871 and its alumni companies have created more than 1,000 jobs, and this new space will allow the hub to expand and create more high-tech companies and good jobs right here in Illinois." 

The expansion project allows 1871 to provide offices to alumni companies that have outgrown their current space but wish to continue to grow within the 1871 environment and utilize 1871's programming and resources. In addition, the new space will house several venture capital firms seeking to engage the Chicago market. It also allows 1871 to develop a number of industry-specific incubators, accelerators and programs in the critical areas of food technology, real estate technology, education technology, financial technology, the Internet of Things, startup engineering, veteran-owned technology businesses and women-owned technology businesses.

"1871 is committed to continually raising the bar in terms of its opportunities for members and service to Chicago's entrepreneurial and technology communities," 1871 CEO Howard A. Tullman said. "The primary goal of 1871 is to foster the innovative new technology businesses that are crucial drivers of Illinois' job and economic growth, and we sincerely appreciate the Governor's consistent support for this mission. This expansion is an important component of our ongoing efforts to provide an extensive set of resources and facilities to our member companies."

Thus far, 1871 has announced the official launch of six new programs that will open or grow within the expansion space, including:

·         The Bunker: the nation's first veterans-exclusive technology business accelerator, which will harness the leadership experiences of veterans as a strategic differentiator for startup and early stage veteran-owned, technology-enabled businesses.

·         LEAP Innovations: an incubator that seeks to foster the development of the best learning technologies by supporting startups that create these technology products and programs for key learning gaps and helping pilot these technologies in real-life learning environments.

·         The DeVry EdTech Incubator: an incubator designed to help startups develop new educational technologies to accelerate innovation in teaching and learning by offering mentorship, coaching and access to DeVry's network of educational leaders.

·         The Elmspring Real Estate Incubator: an incubator supporting startups that leverage technology to create solutions for complex challenges throughout the real estate industry. Elmspring seeks to foster clever and innovative concepts that disrupt traditional models in real estate and its related industries. 1871's real estate technology incubator space is sponsored by DTZ.

·         The Good Food Business Accelerator: a fellowship program focused on encouraging broad-based food entrepreneurship and leveraging technology in the food industry. Operated by FamilyFarmed.org, the GFBA will be the nation's first business accelerator focused on building supply chains of sustainable local food.

·         WiSTEM: a program for women-owned and operated technology businesses. In addition to its complete access to the 1871 community and all of its resources, WiSTEM will offer a rigorous yet flexible program to foster and support women entrepreneurs.

1871 was launched in partnership with the state of Illinois on May 2, 2012. The original 50,000-square-foot space was constructed through a $2.3 million state investment. To date, 1871 has graduated over 40 companies, who have collectively created over 500 jobs and raised over $40 million in venture capital funding.

"The expansion is a tremendous opportunity for my company," Learnmetrics CEO and Co-Founder Julian Miller said. "We were growing rapidly and looking at what the next phase of our company would look like, and we were starting to think we were going to have to trade off some of the benefits of being in a space like 1871, but then they announced the expansion. Being a part of that, you get to drive forward what this next phase is and help give feedback. Ultimately, we think it will be a tremendous partnership."

The expansion comes after news in August that employers added 13,800 new jobs to the Illinois economy. During the last five years, Illinois has added 263,100 private sector jobs. These new positions have been created at small as well as large businesses in the state.

The Illinois unemployment rate hit a new six-year low in August when it fell to 6.7 percent, the lowest rate since before the Governor took office, according to data from the Bureau of Labor Statistics and the Illinois Department of Employment Security. This is the lowest rate since August 2008 and a continuation of an uninterrupted drop in the state jobless rate that began in late 2013. The number of people employed in Illinois remains above six million, continuing a 2014 trend that has seen more people working in this state than at any time since early 2009.

Since taking office and inheriting decades of mismanagement, the Governor has enacted worker's compensation reform and unemployment insurance reform to make Illinois a better place to do business, in addition to major fiscal reforms such as pension reform and Medicaid restructuring that are restoring fiscal stability to Illinois. Governor Quinn is also pushing a new tax cut for businesses that provide job training. By lowering the cost to train workers, this will make it easier for businesses to create new jobs and ensure workers have the skills to drive a 21st century economy.