Fox River Grove, Mchenry County, Illinois Property Taxes

Name: Property Tax Bills Across Fox River Grove, Mchenry County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median FOX RIVER GROVE, IL effective property tax rate: 3.15%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median FOX RIVER GROVE, IL home value: $249,234
Median annual FOX RIVER GROVE, IL tax bill: $7,449, $5,049 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Fox River Grove, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.15%

Estimate Property Tax Bill

$7,851

$7,285

Ownwell’s FOX RIVER GROVE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in FOX RIVER GROVE with just two data points. By entering your property's estimated assessed value, our calculator applies FOX RIVER GROVE’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 McHenry. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Fox River Grove, 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 Fox River Grove, located in McHenry County, the effective property tax rate stands at 3.15%. This is significantly higher than the national median property tax rate of 1.02%. The property tax rate in Fox River Grove is the highest within the local area, reflecting the specific budgetary needs and property values of the county. Compared to the national median property tax bill of $2400, residents in this area experience a higher financial burden due to property taxes. Understanding these differences can help property owners make informed decisions about their investments and potential appeals.

Property Tax Rates Across Fox River Grove, Mchenry County, Illinois

Source: Ownwell

2.29%

2.72%

3.15%

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 Fox River Grove Taxx Rate

3.15%

Median Effective Mchenry County Taxx Rate

2.75%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

0.99%

Property Tax Rates Across Fox River Grove, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60021	2.23%	2.83%	3.15%	3.28%	3.44%

Source: Ownwell

Property Tax Assessment Values Across Fox River Grove, Mchenry County, Illinois

When examining property taxes in Fox River Grove, 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. Assessment notices: 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 Fox River Grove. For example, the median home price in Fox River Grove is $249,234, with tax bills ranging significantly across the county. Zip code 60021 has the highest median home price at $249,234.

Property Tax Assessment Values Across Fox River Grove, Mchenry County, Illinois

Source: Ownwell

$134,019

$378,264

$622,508

Median Fox River Grove Market Value

$249,234

Median Mchenry County Market Value

$241,654

Median Illinois Market Value

$194,700

Median United States Market Value

$244,900

Property Tax Assessment Values Across Fox River Grove, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60021	$125,051	$183,072	$249,234	$312,750	$395,513

Source: Ownwell

Property Tax Bills Across Fox River Grove, Mchenry County, Illinois

In Fox River Grove, IL, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The local tax rate is applied to this assessed value to determine the annual property tax bill. In McHenry County, the median property tax bill stands significantly higher than the national median of $2,400, with homeowners paying a median of $7,449 annually. This discrepancy is due to the local tax rate and the assessed property values in the area. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners facing high property taxes can benefit from Ownwell's services, as we specialize in property tax appeals and exemptions. Our expertise can help identify potential savings by ensuring the property is assessed accurately, potentially reducing the tax burden. By leveraging our knowledge and experience, homeowners in Fox River Grove can achieve significant savings on their property tax bills.

Property Tax Bills Across Fox River Grove, Mchenry County, Illinois

Source: Ownwell

$3,508

$9,978

$16,448

Median Fox River Grove Tax Bill

$7,449

Median Mchenry County Tax Bill

$6,534

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Fox River Grove, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60021	$3,258	$5,082	$7,449	$9,838	$12,043

Source: Ownwell