Altona, Henry County, Illinois Property Taxes

Name: Property Tax Bills Across Altona, Henry County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Altona, IL effective property tax rate: 2.30%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Altona, IL home value: $110,616
Median annual Altona, IL tax bill: $2,512, $112 higher than the national median property tax bill of $2,400.

How are property taxes in Henry County calculated?

Property taxes in Altona, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Altona’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Altona, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Altona, Henry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.3%

Estimate Property Tax Bill

$2,544

$2,361

Ownwell’s Altona Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Altona with just two data points. By entering your property's estimated assessed value, our calculator applies Altona’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Henry County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Altona, Henry County, Illinois

Local government entities in Illinois set property tax rates, which can vary significantly within the state. This variation is due to each county's annual budget estimation process. Counties determine the budget required to provide essential services and divide it by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although this process involves votes and legal guidelines, it essentially boils down to this annual calculation.

In Altona, located in Henry County, the effective property tax rate mirrors the highest and lowest median tax rates within the state, showcasing a uniformity not often seen in other regions. This rate is notably higher than the national median, making it essential for property owners in Altona to explore potential tax appeal and exemption opportunities. By understanding these local nuances and leveraging professional property tax consulting services, residents can better navigate the complexities of property taxation and potentially reduce their tax burdens. Comparing Altona's tax rate to state and national medians highlights the importance of staying informed and proactive in managing property taxes effectively.

Property Tax Rates Across Altona, Henry County, Illinois

Source: Ownwell

1.96%

2.25%

2.55%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Altona Tax Rate

2.30%

Median Effective Henry County Tax Rate

2.38%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Altona, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61414	1.72%	1.99%	2.30%	2.49%	2.49%

Source: Ownwell

Property Tax Assessment Values Across Altona, Henry County, Illinois

When examining property taxes in Altona, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Henry County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Henry County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Altona. For example, the median home price in Altona is $110,616, with tax bills ranging significantly across the county. ZIP code 61414 has the highest median home price at $110,616.

Property Tax Assessment Values Across Altona, Henry County, Illinois

Source: Ownwell

$49,584

$147,291

$244,998

Median Altona Market Value

$110,616

Median Henry County Market Value

$112,041

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Altona, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61414	$60,471	$79,048	$110,616	$219,042	$354,208

Source: Ownwell

Property Tax Bills Across Altona, Henry County, Illinois

In Altona, located in Henry County, IL, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. Homeowners in Altona face a median property tax bill of $2,512, which is slightly above the national median of $2,400. Factors such as location, property size, and home improvements can influence the assessed value, subsequently affecting the tax bill. For homeowners, this means that any changes in the market value or local tax rates can impact their annual expenses.

Ownwell offers a valuable service to homeowners by providing property tax appeal and exemption services. By analyzing market trends and property assessments, Ownwell can identify potential savings opportunities. This expertise can help homeowners reduce their property tax bills, ensuring they pay only their fair share. With the highest median tax bill in the area being $2,512, Ownwell's services can make a significant difference in managing property tax expenses effectively.

Property Tax Bills Across Altona, Henry County, Illinois

Source: Ownwell

$1,211

$3,278

$5,345

Median Altona Tax Bill

$2,512

Median Henry County Tax Bill

$2,634

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Altona, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61414	$892	$1,371	$2,512	$5,471	$8,232

Source: Ownwell