Galva, Henry County, Illinois Property Taxes
Median Galva, IL effective property tax rate: 2.44%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Galva, IL home value: $70,803
Median annual Galva, IL tax bill: $1,661, $739 lower than the national median property tax bill of $2,400.
How are property taxes in Henry County calculated?
Property taxes in Galva, 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 Galva’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Galva, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Galva, Henry County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.44%
Estimate Property Tax Bill
$1,728
$1,603
Property Tax Rates Across Galva, Henry County, Illinois
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide 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.
In Galva, located in Henry County, Illinois, the effective property tax rate stands at 2.44%. This rate is significantly higher than the national median property tax rate of 1.02%. Illinois is known for its relatively high property tax rates, and Galva is no exception. Residents here face a property tax bill that is more than double the national median of $2,400. This high rate underscores the importance of understanding local tax policies and exploring potential exemptions or appeal opportunities. By being informed and proactive, property owners can potentially reduce their tax burden and ensure they are not overpaying.
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 Galva Tax Rate
2.44%
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 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 Galva, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61434 | 1.47% | 2.03% | 2.44% | 3.04% | 3.42% |
Source: Ownwell
Property Tax Assessment Values Across Galva, Henry County, Illinois
When examining property taxes in Galva, 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.
In Henry County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Galva.
For example, the median home price in Galva is $70,803, with tax bills ranging significantly across the county. Zip code 61434 has the highest median home price at $70,803.
Property Tax Assessment Values Across Galva, Henry County, Illinois
Source: Ownwell
$49,584
$147,291
$244,998
Median Galva Market Value
$70,803
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 Galva, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61434 | $30,509 | $48,807 | $70,803 | $105,927 | $169,091 |
Source: Ownwell
Property Tax Bills Across Galva, Henry County, Illinois
In Galva, located in Henry County, IL, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Homeowners in Galva can expect a median property tax bill of $1,661, which is below the national median of $2,400. However, tax bills can vary significantly, with 25th percentile bills at $1,051 and 90th percentile bills reaching up to $4,408. These variations are influenced by factors such as home value, local government budgets, and public service funding needs.
For homeowners looking to reduce their property tax burden, Ownwell offers expert assistance in tax appeals and exemptions. By analyzing your property’s assessment and identifying potential inaccuracies, Ownwell can help ensure you’re not overpaying. With a deep understanding of local tax laws and regulations, Ownwell is well-equipped to guide homeowners through the appeal process, potentially leading to significant savings on their property tax bills.
Median Galva Tax Bill
$1,661
Median Henry County Tax Bill
$2,634
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Galva, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61434 | $576 | $1,051 | $1,661 | $2,686 | $4,408 |
Source: Ownwell