Bishop Hill, Henry County, Illinois Property Taxes

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

Median Bishop Hill, IL effective property tax rate: 1.96%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Bishop Hill, IL home value: $77,964
Median annual Bishop Hill, IL tax bill: $1,359, $1,041 lower than the national median property tax bill of $2,400.

How are property taxes in Henry County calculated?

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

Last Updated March 1, 2025

Bishop Hill, Henry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.96%

Estimate Property Tax Bill

$1,528

$1,418

Ownwell’s Bishop Hill Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bishop Hill with just two data points. By entering your property's estimated assessed value, our calculator applies Bishop Hill’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 Bishop Hill, Henry County, Illinois

Local government entities in Illinois set property tax rates, which can vary widely within the state. Annually, each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Bishop Hill in Henry County features a property tax rate that aligns with the highest and lowest median tax rates in Illinois, both at 1.96%. This rate is significantly higher than the national median property tax rate of 1.02%. The property tax bill for Bishop Hill residents is also higher compared to the national median of $2400.

Understanding these figures can provide a clearer picture of how property taxes in Bishop Hill compare to those in other parts of Illinois and the nation. As property taxes directly impact homeowners' financial obligations, being informed about local tax rates is crucial for effective financial planning.

Property Tax Rates Across Bishop Hill, 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 Bishop Hill Tax Rate

1.96%

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 Bishop Hill, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61419	1.02%	1.45%	1.96%	2.59%	2.59%

Source: Ownwell

Property Tax Assessment Values Across Bishop Hill, Henry County, Illinois

When examining property taxes in Bishop Hill, 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 May. 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 Bishop Hill. For example, the median home price in Bishop Hill is $77,964, with tax bills ranging significantly across the county. 61419 has the highest median home price at $77,964.

Property Tax Assessment Values Across Bishop Hill, Henry County, Illinois

Source: Ownwell

$49,584

$147,291

$244,998

Median Bishop Hill Market Value

$77,964

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 Bishop Hill, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61419	$30,929	$53,694	$77,964	$112,893	$157,196

Source: Ownwell

Property Tax Bills Across Bishop Hill, Henry County, Illinois

In Bishop Hill, located in Henry County, IL, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the actual tax bill. Factors such as property location, size, and market conditions play a significant role in determining the assessed value. Homeowners in Bishop Hill face a median property tax bill of $1,359, which is below the national median of $2,400. While some residents pay as little as $711, others might see bills as high as $3,969, reflecting the diversity in property values and tax assessments within the area. This variability can significantly impact homeowners' finances, making it crucial to ensure that property taxes are fair and accurate. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering tax bills by ensuring accurate assessments and identifying applicable exemptions, thus offering significant savings for homeowners.

Property Tax Bills Across Bishop Hill, Henry County, Illinois

Source: Ownwell

$1,211

$3,278

$5,345

Median Bishop Hill Tax Bill

$1,359

Median Henry County Tax Bill

$2,634

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Bishop Hill, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61419	$453	$711	$1,359	$2,293	$3,969

Source: Ownwell