Bull Valley, Mchenry County, Illinois Property Taxes
Median Bull Valley, IL effective property tax rate: 2.99%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Bull Valley, IL home value: $419,277
Median annual Bull Valley, IL tax bill: $12,333, $9,933 higher than the national median property tax bill of $2,400.
How are property taxes in McHenry calculated?
Property taxes in Bull Valley, 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 Bull Valley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bull Valley, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bull Valley, Mchenry County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.99%
Estimate Property Tax Bill
$12,536
$11,633
Property Tax Rates Across Bull Valley, Mchenry County, Illinois
Local government entities are responsible for setting tax rates, which can vary widely within a state. Each year, counties estimate the budget needed to provide services and divide this by the total value of all taxable property in their jurisdiction. This calculation determines the property tax rate. While votes and laws influence tax rates and budgets, this is essentially the annual process.
In Bull Valley, located in McHenry County, property tax rates are notably higher than the national average. The median property tax rate in Bull Valley is significantly above the national median of 1.02%, making it one of the highest in the state. Compared to other cities in Illinois, Bull Valley's rates are among the highest, reflecting the county's budgetary needs and property values. The highest median property tax rate in the area is found in the 60050 zip code, while the lowest is in the 60098 zip code. These variations highlight the differences in tax rates even within a single county. Understanding these rates can aid homeowners in making informed financial decisions regarding their property investments.
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 Bull Valley Tax Rate
2.99%
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 Bull Valley, Mchenry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60050 | 2.87% | 2.94% | 3.04% | 3.07% | 3.18% |
| 60097 | 2.86% | 2.88% | 2.99% | 3.02% | 3.05% |
| 60098 | 2.80% | 2.91% | 2.98% | 3.06% | 3.16% |
| 60012 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Bull Valley, Mchenry County, Illinois
When examining property taxes in Bull Valley, 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 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 Bull Valley.
For example, the median home price in Bull Valley is $419,277, with tax bills ranging significantly across the county. Zip code 60098 has the highest median home price at $430,750.
Property Tax Assessment Values Across Bull Valley, Mchenry County, Illinois
Source: Ownwell
$134,019
$378,264
$622,508
Median Bull Valley Market Value
$419,277
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 Bull Valley, Mchenry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60050 | $309,746 | $381,567 | $420,561 | $466,896 | $569,600 |
| 60097 | $334,906 | $361,304 | $388,020 | $424,407 | $475,525 |
| 60098 | $289,317 | $352,956 | $430,750 | $552,071 | $716,425 |
| 60012 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Bull Valley, Mchenry County, Illinois
Median Bull Valley Tax Bill
$12,333
Median Mchenry County Tax Bill
$6,534
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Bull Valley, Mchenry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60050 | $6,791 | $11,095 | $12,528 | $14,157 | $17,225 |
| 60097 | $10,017 | $10,641 | $11,514 | $12,847 | $13,932 |
| 60098 | $7,944 | $10,173 | $12,673 | $16,916 | $23,549 |
| 60012 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell