Henderson, Knox County, Illinois Property Taxes
Median Henderson, IL effective property tax rate: 1.94%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Henderson, IL home value: $80,640
Median annual Henderson, IL tax bill: $1,589, $811 lower than the national median property tax bill of $2,400.
How are property taxes in Knox County calculated?
Property taxes in Henderson, 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 Henderson’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Henderson, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Henderson, Knox County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.94%
Estimate Property Tax Bill
$1,564
$1,452
Ownwell’s Henderson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Henderson with just two data points.
By entering your property's estimated assessed value, our calculator applies Henderson’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 Knox.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Henderson, Knox County, Illinois
Local government entities determine property tax rates, which can differ significantly within Illinois. This variation is due to each county's annual assessment of its budget needs to fund services, which is then divided by the total assessed value of all taxable properties in the area. The resulting figure is the property tax rate. Though the process includes votes and legislation, this is essentially how it works each year.
In Illinois, Henderson's effective property tax rate can be compared to other cities in the state, as well as the median rates for Illinois and the U.S. The state's median property tax rate is 1.94%, which stands out against the national median of 1.02%. This means that property owners in Illinois, including those in Henderson, might face higher property tax bills compared to the national average. Understanding these rates is crucial for property owners looking to manage their tax liabilities effectively.
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 Henderson Taxx Rate
1.94%
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 Knox County Taxx Rate
2.31%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
0.99%
Property Tax Rates Across Henderson, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61439 | 1.15% | 1.55% | 1.94% | 2.25% | 2.67% |
Source: Ownwell
Property Tax Assessment Values Across Henderson, Knox County, Illinois
When examining property taxes in Henderson, 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 Knox 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 Knox 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 Henderson. For example, the median home price in Henderson is $80,640, with tax bills ranging significantly across the county. 61439 has the highest median home price at $80,640.
Property Tax Assessment Values Across Henderson, Knox County, Illinois
Source: Ownwell
$41,790
$1,323,092
$2,604,393
Median Henderson Market Value
$80,640
Median Knox County Market Value
$78,330
Median Illinois Market Value
$194,700
Median United States Market Value
$244,900
Property Tax Assessment Values Across Henderson, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61439 | $38,070 | $53,940 | $80,640 | $109,065 | $150,006 |
Source: Ownwell
Property Tax Bills Across Henderson, Knox County, Illinois
In the city of Henderson, located in Knox County, Illinois, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Henderson typically face a median property tax bill of $1,589, which is below the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $877 and the 75th percentile reaching $2,082, indicating a range of tax burdens depending on property values and other factors. The assessed value is influenced by local government budgets, school district funding needs, and other municipal services, impacting how much homeowners owe annually.
For homeowners looking to potentially reduce their property tax burden, Ownwell offers expert property tax appeal services. By analyzing property assessments and identifying discrepancies or overvaluations, Ownwell can help homeowners in Henderson file successful appeals, potentially lowering their tax bills. This service ensures that homeowners pay only their fair share, aligning their tax obligations with the true value of their property.
Median Henderson Tax Bill
$1,589
Median Knox County Tax Bill
$1,699
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,690
Property Tax Bills Across Henderson, Knox County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61439 | $497 | $877 | $1,589 | $2,082 | $3,236 |
Source: Ownwell