Fri December 2, 2005
Hancock Farmland to Drop About Eight Percent
Carthage, IL – A new Illinois assessment system is expected to have Hancock County farmland values decline an average of about eight percent. Supervisor of Assessments Dale Bolton says the new system rates farmland on the soil type, instead of the previous University of Illinois-issued productivity index. Bolton says some land will go down, and some could more than double its tax value. He says as farmland values drop, other types of personal property could be more heavily taxed to make up the difference.