Erie, Henry County, Illinois Property Taxes

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

Median Erie, IL effective property tax rate: 2.27%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%. Median Erie, IL home value: $183,555. Median annual Erie, IL tax bill: $2,964, $564 higher than the national median property tax bill of $2,400.

How are property taxes in Henry County calculated?

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

Last Updated March 1, 2025

Erie, Henry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.27%

Estimate Property Tax Bill

$4,167

$3,867

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

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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.

Erie in Henry County, Illinois, exemplifies this process. With a median property tax rate of 2.27%, Erie stands out compared to the national median property tax rate of 1.02%. This rate is considerably higher than the national average, indicating a significant investment in local services and infrastructure. It is also noteworthy that Erie's rate is consistent across the county, reflecting a uniform approach to property taxation within the region.

By understanding these rates, property owners in Erie can better anticipate their annual property tax bills, which are likely to exceed the national median of $2,400. This insight is crucial for budgeting and financial planning, ensuring that property owners are well-prepared for their tax obligations.

Property Tax Rates Across Erie, 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 Erie Tax Rate

2.27%

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 Erie, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61250	1.38%	1.90%	2.27%	2.52%	2.59%

Source: Ownwell

Property Tax Assessment Values Across Erie, Henry County, Illinois

When examining property taxes in Erie, Illinois, 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 Erie. For example, the median home price in Erie is $183,555, with tax bills ranging significantly across the county. 61250 has the highest median home price at $183,555.

Property Tax Assessment Values Across Erie, Henry County, Illinois

Source: Ownwell

$49,584

$147,291

$244,998

Median Erie Market Value

$183,555

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 Erie, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61250	$30,319	$90,912	$183,555	$254,592	$402,856

Source: Ownwell

Property Tax Bills Across Erie, Henry County, Illinois

Property tax bills in Erie, located in Henry County, IL, are determined by assessing the value of a property and applying the local tax rate. The median home price in Erie is $183,555, which serves as the basis for calculating the tax bill. Homeowners in Erie can expect a tax bill that varies significantly, with the 25th percentile at $1,159 and the 75th percentile reaching $6,046. The highest median tax bill recorded in the area is $2,964. These figures indicate that property taxes in Erie can be burdensome, especially compared to the national median property tax bill of $2,400. Factors such as property size, improvements, and local school district funding needs can influence the tax bill. Homeowners often find these costs overwhelming, but Ownwell offers a solution. By providing expert property tax appeal services, Ownwell helps homeowners potentially lower their tax bills. This service can lead to significant savings, ensuring that property taxes become a manageable expense for Erie residents.

Property Tax Bills Across Erie, Henry County, Illinois

Source: Ownwell

$1,211

$3,278

$5,345

Median Erie Tax Bill

$2,964

Median Henry County Tax Bill

$2,634

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Erie, Henry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61250	$529	$1,159	$2,964	$6,046	$9,111

Source: Ownwell