Holiday Hills, Mchenry County, Illinois Property Taxes

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

Median HOLIDAY HILLS, IL effective property tax rate: 2.71%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median HOLIDAY HILLS, IL home value: $164,385
Median annual HOLIDAY HILLS, IL tax bill: $4,396, $1,996 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Holiday Hills, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.71%

Estimate Property Tax Bill

$4,455

$4,134

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

Property Tax Rates Across Holiday Hills, Mchenry County, Illinois

Local government entities determine property tax rates, and these can differ significantly across Illinois. The process involves each county assessing its budgetary needs for public services and dividing this by the total value of all taxable properties within the county. This calculation ultimately determines the property tax rate. While legislative measures and public votes can influence these rates and budgets, this is the essential annual procedure.

Now, let's delve into how Holiday Hills in McHenry County compares to other cities in Illinois and nationwide. Holiday Hills boasts an effective property tax rate of 2.71%, which is notably higher than the national median of 1.02%. This places Holiday Hills at the upper end of the spectrum both within the state and across the country. For homeowners in Holiday Hills, this means contributing a larger portion of their property's assessed value towards taxes compared to the national average. Understanding these rates is crucial for homeowners looking to manage their financial obligations effectively and explore potential savings through property tax appeals or exemptions.

Property Tax Rates Across Holiday Hills, 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 Holiday Hills Taxx Rate

2.71%

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 Holiday Hills, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60051	2.31%	2.58%	2.71%	2.79%	3.05%

Source: Ownwell

Property Tax Assessment Values Across Holiday Hills, Mchenry County, Illinois

When examining property taxes in Holiday Hills, 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 McHenry County Assessor 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 March. 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 Holiday Hills. For example, the median home price in Holiday Hills is $164,385, with tax bills ranging significantly across the county. Zip code 60051 has the highest median home price at $164,385.

Property Tax Assessment Values Across Holiday Hills, Mchenry County, Illinois

Source: Ownwell

$134,019

$378,264

$622,508

Median Holiday Hills Market Value

$164,385

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 Holiday Hills, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60051	$109,164	$140,470	$164,385	$189,011	$220,457

Source: Ownwell

Property Tax Bills Across Holiday Hills, Mchenry County, Illinois

In Holiday Hills, property tax bills are determined by assessing the market value of a home and applying the local tax rate. McHenry County's property tax rates are notably higher than the national median of 1.02%, leading to substantial tax bills for homeowners. The median home price in Holiday Hills is $164,385, and tax bills can vary significantly, with the 25th percentile at $3,602 and the 75th percentile at $5,161. This variance highlights how factors such as property size, location, and improvements can influence assessments and, consequently, tax bills. The highest and lowest median tax bills in the area both stand at $4,396, indicating a level of uniformity in tax assessments within certain zip codes. Homeowners in Holiday Hills can benefit from Ownwell's expertise in property tax appeals and exemptions. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially reduce their tax burden, ensuring they only pay their fair share. This personalized service can lead to significant savings, providing financial relief for property owners.

Property Tax Bills Across Holiday Hills, Mchenry County, Illinois

Source: Ownwell

$3,508

$9,978

$16,448

Median Holiday Hills Tax Bill

$4,396

Median Mchenry County Tax Bill

$6,534

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Holiday Hills, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60051	$2,026	$3,602	$4,396	$5,161	$6,120

Source: Ownwell