Barrington, Mchenry County, Illinois Property Taxes
Median Barrington, IL effective property tax rate: 2.62%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Barrington, IL home value: $622,508
Median annual Barrington, IL tax bill: $16,448, $14,048 higher than the national median property tax bill of $2,400.
How are property taxes in McHenry County calculated?
Property taxes in Barrington, 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 Barrington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Barrington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Barrington, Mchenry County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.62%
Estimate Property Tax Bill
$16,310
$15,135
Property Tax Rates Across Barrington, Mchenry 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 Barrington, located in McHenry County, Illinois, the effective property tax rate is notably higher than the national median. Illinois itself is known for having some of the highest property tax rates in the country, and Barrington is no exception. The median property tax rate in Barrington stands at 2.62%, significantly above the national median of 1.02%. This high rate can lead to substantial property tax bills for homeowners.
Given the substantial difference in tax rates, homeowners in Barrington may find it beneficial to explore property tax appeal and exemption services. Understanding these local nuances and how they compare to state and national averages can be crucial for homeowners aiming to manage their property 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 Barrington Tax Rate
2.62%
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 Mchenry County Tax Rate
2.75%
Median Effective Illinois Tax Rate
2.35%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Barrington, Mchenry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60010 | 2.35% | 2.55% | 2.62% | 2.68% | 2.74% |
Source: Ownwell
Property Tax Assessment Values Across Barrington, Mchenry County, Illinois
When examining property taxes in Barrington, 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 McHenry 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 McHenry 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 Barrington.
For example, the median home price in Barrington is $622,508, with tax bills ranging significantly across the county. Zip code 60010 has the highest median home price at $622,508.
Property Tax Assessment Values Across Barrington, Mchenry County, Illinois
Source: Ownwell
$134,019
$378,264
$622,508
Median Barrington Market Value
$622,508
Median Mchenry County Market Value
$241,654
Median Illinois Market Value
$194,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Barrington, Mchenry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60010 | $302,217 | $442,515 | $622,508 | $847,964 | $1,160,488 |
Source: Ownwell
Property Tax Bills Across Barrington, Mchenry County, Illinois
In Barrington, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. The median home price in Barrington is $622,508, and property tax rates are applied to this assessed value to determine the tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. Homeowners in Barrington can expect tax bills to vary significantly, with the 25th percentile at $11,287 and the 75th percentile reaching $22,366. The highest median tax bill is $16,448, which is notably higher than the national median property tax bill of $2,400. This can place a considerable financial burden on homeowners.
Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing property assessments and market trends, Ownwell can identify potential savings and help homeowners reduce their tax bills. This service not only alleviates financial pressure but also ensures that homeowners are not overpaying on their property taxes.
Median Barrington Tax Bill
$16,448
Median Mchenry County Tax Bill
$6,534
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Barrington, Mchenry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60010 | $7,990 | $11,287 | $16,448 | $22,366 | $31,034 |
Source: Ownwell