Mchenry County Property Taxes
The median property tax rate in McHenry County is 2.75%, significantly higher than both the national median of 0.99% and the Illinois state median of 2.35%. With a median home value of $241,654 in McHenry County, the typical annual property tax bill reaches $6,534, far exceeding the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding McHenry County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Crystal Lake or another part of McHenry County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mchenry County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.75%
Estimate Property Tax Bill
$6,645
$6,494
Ownwell’s McHenry County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in McHenry County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in McHenry County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Mchenry County, Illinois
Property taxes in McHenry County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in McHenry County is 2.75%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within McHenry County set these rates annually, and they can vary significantly between different areas within the county. Each year, McHenry County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Fox River Grove has one of the higher property tax rates in Illinois at 3.15%, while the city of Hebron boasts one of the lowest at 2.29%. Analyzing how McHenry County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mchenry County Tax Rate
2.75%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mchenry County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Algonquin | 2.41% | 2.54% | 2.64% | 2.70% | 2.82% |
| Barrington | 2.35% | 2.55% | 2.62% | 2.68% | 2.74% |
| Barrington Hills | 2.59% | 2.67% | 2.80% | 2.87% | 2.91% |
| Bull Valley | 2.80% | 2.91% | 2.99% | 3.06% | 3.16% |
| Capron | 2.67% | 2.67% | 2.67% | 2.67% | 2.67% |
| Cary | 2.47% | 2.72% | 2.87% | 2.97% | 3.12% |
| Crystal Lake | 2.52% | 2.70% | 2.87% | 2.97% | 3.14% |
| Fox Lake | 2.48% | 2.57% | 2.75% | 2.79% | 2.80% |
| Fox River Grove | 2.23% | 2.83% | 3.15% | 3.28% | 3.44% |
| Garden Prairie | 2.17% | 2.26% | 2.44% | 2.58% | 2.67% |
| Genoa | 2.24% | 2.46% | 2.60% | 2.66% | 2.66% |
| Hampshire | 1.58% | 1.83% | 2.30% | 2.42% | 2.44% |
| Harvard | 2.11% | 2.38% | 2.66% | 2.92% | 3.28% |
| Hebron | 1.90% | 2.15% | 2.29% | 2.37% | 2.59% |
| Holiday Hills | 2.31% | 2.58% | 2.71% | 2.79% | 3.05% |
| Huntley | 2.24% | 2.38% | 2.51% | 2.57% | 3.18% |
| Island Lake | 2.70% | 2.90% | 3.00% | 3.06% | 3.32% |
| Johnsburg | 2.24% | 2.39% | 2.49% | 2.56% | 2.65% |
| Lake Barrington | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
| Lake In The Hills | 2.49% | 2.60% | 2.65% | 2.91% | 3.04% |
| Lakemoor | 2.57% | 2.78% | 3.11% | 3.25% | 3.59% |
| Lakewood | 2.66% | 2.66% | 2.66% | 2.66% | 2.66% |
| Marengo | 2.22% | 2.37% | 2.54% | 2.73% | 2.99% |
| Mccullom Lake | 2.10% | 2.56% | 2.76% | 3.09% | 3.09% |
| Mchenry | 2.23% | 2.55% | 2.83% | 2.96% | 3.16% |
| Oakwood Hills | 2.67% | 2.85% | 2.95% | 3.00% | 3.20% |
| Port Barrington | 2.79% | 2.92% | 3.01% | 3.07% | 3.20% |
| Prairie Grove | 2.92% | 3.02% | 3.08% | 3.12% | 3.20% |
| Richmond | 2.31% | 2.50% | 2.66% | 2.84% | 3.07% |
| Ringwood | 2.27% | 2.38% | 2.48% | 2.53% | 2.61% |
| South Barrington | 2.66% | 2.66% | 2.66% | 2.66% | 2.66% |
| Spring Grove | 2.36% | 2.54% | 2.68% | 2.73% | 2.84% |
| Trout Valley | 2.66% | 2.74% | 2.83% | 2.87% | 2.97% |
| Union | 2.03% | 2.21% | 2.32% | 2.41% | 2.56% |
| Village Of Lakewood | 2.61% | 2.73% | 2.82% | 2.86% | 2.92% |
| Wonder Lake | 2.22% | 2.50% | 2.72% | 2.90% | 3.25% |
| Woodstock | 2.53% | 2.77% | 3.04% | 3.20% | 3.44% |
Source: Ownwell
Property Tax Assessment Values Across Mchenry County, Illinois
In McHenry County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the McHenry County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in McHenry County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, South Barrington has the highest median tax bill at $63,513, while Barrington Hills has the lowest at $947. Being aware of these valuation processes in McHenry County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Mchenry County, Illinois
Source: Ownwell
$50,583
$1,220,817
$2,391,051
Average Mchenry County Assessed Value
$241,654
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mchenry County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Algonquin | $173,304 | $222,375 | $279,441 | $358,557 | $425,802 |
| Barrington | $302,217 | $442,515 | $622,508 | $847,964 | $1,160,488 |
| Barrington Hills | $28,900 | $30,162 | $32,265 | $330,500 | $509,440 |
| Bull Valley | $297,997 | $359,118 | $419,277 | $514,050 | $690,493 |
| Capron | $212,310 | $212,310 | $212,310 | $212,310 | $212,310 |
| Cary | $155,719 | $191,352 | $264,828 | $336,942 | $415,817 |
| Crystal Lake | $152,450 | $196,190 | $254,938 | $328,586 | $406,902 |
| Fox Lake | $171,111 | $181,366 | $193,018 | $206,649 | $206,673 |
| Fox River Grove | $125,051 | $183,072 | $249,234 | $312,750 | $395,513 |
| Garden Prairie | $135,066 | $167,415 | $215,616 | $259,110 | $299,256 |
| Genoa | $166,814 | $220,899 | $294,231 | $329,014 | $507,879 |
| Hampshire | $235,702 | $264,124 | $286,995 | $296,064 | $325,882 |
| Harvard | $100,212 | $126,324 | $161,430 | $219,341 | $316,461 |
| Hebron | $94,385 | $149,917 | $182,954 | $238,778 | $321,640 |
| Holiday Hills | $109,164 | $140,470 | $164,385 | $189,011 | $220,457 |
| Huntley | $189,606 | $238,125 | $289,905 | $354,789 | $397,828 |
| Island Lake | $131,754 | $146,196 | $185,424 | $219,878 | $308,366 |
| Johnsburg | $156,816 | $206,158 | $287,943 | $359,792 | $483,557 |
| Lake Barrington | $850,149 | $850,149 | $850,149 | $850,149 | $850,149 |
| Lake In The Hills | $150,192 | $189,111 | $253,479 | $292,837 | $331,329 |
| Lakemoor | $106,458 | $129,624 | $148,908 | $193,893 | $247,601 |
| Lakewood | $59,516 | $148,717 | $297,386 | $446,054 | $535,256 |
| Marengo | $128,293 | $164,360 | $225,654 | $301,035 | $385,389 |
| Mccullom Lake | $85,988 | $106,712 | $134,019 | $171,860 | $209,309 |
| Mchenry | $122,571 | $162,183 | $202,110 | $267,690 | $355,455 |
| Oakwood Hills | $152,064 | $202,070 | $234,414 | $274,546 | $467,265 |
| Port Barrington | $151,516 | $197,709 | $278,259 | $318,087 | $341,896 |
| Prairie Grove | $68,235 | $138,776 | $373,490 | $576,224 | $589,204 |
| Richmond | $78,345 | $147,906 | $227,919 | $299,686 | $359,403 |
| Ringwood | $191,401 | $257,139 | $333,567 | $386,682 | $462,651 |
| South Barrington | $2,391,051 | $2,391,051 | $2,391,051 | $2,391,051 | $2,391,051 |
| Spring Grove | $162,438 | $243,609 | $318,396 | $367,558 | $418,074 |
| Trout Valley | $316,728 | $350,382 | $406,308 | $455,302 | $562,011 |
| Union | $140,649 | $169,533 | $250,701 | $327,795 | $407,457 |
| Village Of Lakewood | $230,319 | $303,442 | $419,784 | $501,648 | $588,640 |
| Wonder Lake | $90,671 | $121,566 | $162,102 | $229,347 | $304,193 |
| Woodstock | $116,321 | $157,779 | $218,766 | $286,230 | $366,023 |
Source: Ownwell
Property Tax Bills Across Mchenry County, Illinois
In McHenry County, IL, property tax bills are calculated based on the assessed value of your home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of your property. Various factors, such as property size, location, and condition, are considered in this assessment. Once the assessed value is established, local tax rates are applied to calculate your tax bill. These rates can vary significantly within the county, leading to a wide range of tax bills. For instance, the tax bill for the 25th percentile is $4,682, while the 75th percentile sees bills around $8,756. High-end properties can have tax bills as steep as $11,109. Homeowners in McHenry County experience a significant impact on their finances due to these property taxes. For example, in South Barrington, the highest median tax bill reaches an astounding $63,513, contrasting sharply with Barrington Hills, where the lowest median tax bill is just $947. This variation underscores the importance of understanding your property's assessed value and the applicable tax rates.
Average Mchenry County Tax Bill
$6,534
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Mchenry County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Algonquin | $4,315 | $5,551 | $7,296 | $9,396 | $11,351 |
| Barrington | $7,990 | $11,287 | $16,448 | $22,366 | $31,034 |
| Barrington Hills | $818 | $866 | $947 | $8,446 | $12,945 |
| Bull Valley | $7,321 | $10,379 | $12,333 | $15,498 | $21,474 |
| Capron | $5,671 | $5,671 | $5,671 | $5,671 | $5,671 |
| Cary | $3,965 | $5,377 | $7,442 | $9,960 | $12,890 |
| Crystal Lake | $3,783 | $5,408 | $7,219 | $9,461 | $11,836 |
| Fox Lake | $4,364 | $4,682 | $5,141 | $5,769 | $5,778 |
| Fox River Grove | $3,258 | $5,082 | $7,449 | $9,838 | $12,043 |
| Garden Prairie | $3,483 | $3,780 | $4,596 | $5,803 | $7,425 |
| Genoa | $4,153 | $4,781 | $7,833 | $8,519 | $13,304 |
| Hampshire | $4,257 | $4,484 | $5,867 | $7,179 | $7,949 |
| Harvard | $2,310 | $3,351 | $4,388 | $5,706 | $7,579 |
| Hebron | $1,938 | $2,999 | $4,132 | $5,344 | $7,144 |
| Holiday Hills | $2,026 | $3,602 | $4,396 | $5,161 | $6,120 |
| Huntley | $4,440 | $5,576 | $7,783 | $9,309 | $10,103 |
| Island Lake | $3,707 | $4,304 | $5,479 | $6,617 | $9,295 |
| Johnsburg | $3,576 | $4,894 | $7,041 | $9,077 | $12,276 |
| Lake Barrington | $22,272 | $22,272 | $22,272 | $22,272 | $22,272 |
| Lake In The Hills | $4,006 | $5,110 | $6,773 | $7,880 | $9,309 |
| Lakemoor | $2,704 | $4,150 | $4,765 | $5,478 | $7,753 |
| Lakewood | $15,840 | $15,840 | $15,840 | $15,840 | $15,840 |
| Marengo | $3,091 | $4,209 | $5,723 | $7,573 | $9,491 |
| Mccullom Lake | $1,886 | $2,779 | $3,508 | $4,708 | $5,757 |
| Mchenry | $2,809 | $4,105 | $5,541 | $7,510 | $10,100 |
| Oakwood Hills | $4,034 | $5,675 | $6,838 | $8,063 | $14,146 |
| Port Barrington | $4,274 | $5,788 | $8,305 | $9,594 | $10,501 |
| Prairie Grove | $2,008 | $3,983 | $11,291 | $17,731 | $18,143 |
| Richmond | $2,408 | $3,569 | $5,791 | $7,963 | $9,640 |
| Ringwood | $4,171 | $5,786 | $8,129 | $9,510 | $11,073 |
| South Barrington | $63,513 | $63,513 | $63,513 | $63,513 | $63,513 |
| Spring Grove | $3,681 | $5,993 | $8,400 | $9,917 | $11,520 |
| Trout Valley | $8,225 | $9,744 | $11,440 | $12,857 | $15,709 |
| Union | $2,798 | $3,818 | $5,741 | $7,822 | $9,794 |
| Village Of Lakewood | $6,098 | $8,101 | $11,824 | $14,205 | $16,891 |
| Wonder Lake | $2,191 | $3,112 | $4,323 | $6,383 | $8,757 |
| Woodstock | $3,149 | $4,577 | $6,474 | $8,592 | $10,707 |
Source: Ownwell
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