Henry, Marshall County, Illinois Property Taxes

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

Median Henry, IL effective property tax rate: 2.35%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Henry, IL home value: $136,089
Median annual Henry, IL tax bill: $3,075, $675 higher than the national median property tax bill of $2,400.

How are property taxes in Marshall calculated?

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

Last Updated March 1, 2025

Henry, Marshall County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.35%

Estimate Property Tax Bill

$3,198

$2,968

Ownwell’s Henry Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Henry with just two data points.

By entering your property's estimated assessed value, our calculator applies Henry’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 Marshall County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Henry, Marshall County, Illinois

Local government entities set property 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. Below, you can compare Henry’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

In Henry, located in Marshall County, the property tax rate stands at 2.35%. This rate is significantly higher than the national median property tax rate of 1.02%. The median property tax bill in Henry also surpasses the national median of $2400. These figures highlight the importance of exploring property tax appeal and exemption services to potentially reduce your tax burden. Understanding how these rates are determined and the factors influencing them can empower property owners to make informed decisions about their property tax obligations.

Property Tax Rates Across Henry, Marshall County, Illinois

Source: Ownwell

2.31%

2.62%

2.92%

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 Tax Rate

2.35%

Median Effective Marshall County Tax Rate

2.51%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Henry, Marshall County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61537	1.96%	2.22%	2.35%	2.59%	2.82%

Source: Ownwell

Property Tax Assessment Values Across Henry, Marshall County, Illinois

When examining property taxes in Henry, 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 Marshall County Assessor's Office 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 Marshall 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 Henry.

For example, the median home price in Henry is $136,089, with tax bills ranging significantly across the county. Zip code 61537 has the highest median home price at $136,089.

Property Tax Assessment Values Across Henry, Marshall County, Illinois

Source: Ownwell

$114,447

$143,447

$172,446

Median Henry Market Value

$136,089

Median Marshall County Market Value

$137,295

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Henry, Marshall County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61537	$41,049	$83,956	$136,089	$165,728	$267,204

Source: Ownwell

Property Tax Bills Across Henry, Marshall County, Illinois

In Henry, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's estimation of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Henry face a median property tax bill of $3,075, which is significantly higher than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. This financial burden can be substantial, especially for those with homes in the higher percentiles, where tax bills can soar to $7,138. Ownwell can assist homeowners in Henry by reviewing their property assessments and identifying potential discrepancies or opportunities for exemptions. By leveraging expert knowledge and negotiation skills, Ownwell helps clients reduce their property tax bills, ensuring they only pay their fair share. This service is invaluable for homeowners looking to alleviate the financial strain of high property taxes.

Property Tax Bills Across Henry, Marshall County, Illinois

Source: Ownwell

$2,640

$3,558

$4,476

Median Henry Tax Bill

$3,075

Median Marshall County Tax Bill

$3,331

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Henry, Marshall County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61537	$1,037	$1,876	$3,075	$4,247	$7,138

Source: Ownwell