Mchenry, Mchenry County, Illinois Property Taxes

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

Median McHenry, IL effective property tax rate: 2.83%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median McHenry, IL home value: $202,110
Median annual McHenry, IL tax bill: $5,541, $3,141 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Mchenry, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.83%

Estimate Property Tax Bill

$5,720

$5,308

Ownwell’s McHenry Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in McHenry with just two data points.

By entering your property's estimated assessed value, our calculator applies McHenry’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 County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mchenry, Mchenry County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually 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 McHenry, IL, the effective property tax rate stands out compared to other cities in Illinois and the U.S. McHenry County's median tax rate is notably higher than the national median property tax rate of 1.02%. Within McHenry, the highest median tax rate is found in the 60050 zip code, while the lowest is in the 60051 zip code. These differences highlight the importance of understanding local tax rates and their impact on property owners. Comparing these rates with the national median property tax bill of $2400 underscores the significance of property tax consulting services in managing and potentially reducing property tax liabilities.

Property Tax Rates Across Mchenry, 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 Mchenry Taxx Rate

2.83%

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 Mchenry, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60014	N/A	N/A	N/A	N/A	N/A
60050	2.31%	2.69%	2.87%	2.97%	3.17%
60051	2.18%	2.34%	2.65%	2.86%	2.98%
60098	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Mchenry, Mchenry County, Illinois

When examining property taxes in McHenry, 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 McHenry.

For example, the median home price in McHenry is $202,110, with tax bills ranging significantly across the county. Zip code 60050 has the highest median home price at $202,368.

Property Tax Assessment Values Across Mchenry, Mchenry County, Illinois

Source: Ownwell

$134,019

$378,264

$622,508

Median Mchenry Market Value

$202,110

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 Mchenry, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60014	N/A	N/A	N/A	N/A	N/A
60050	$122,571	$164,433	$202,368	$255,909	$331,238
60051	$122,795	$158,032	$200,704	$307,408	$394,881
60098	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Mchenry, Mchenry County, Illinois

In McHenry, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in McHenry, property tax bills can vary significantly. The 25th percentile tax bill is $4,105, while those at the 75th percentile pay around $7,510. Some homeowners face even higher bills, reaching up to $10,100 at the 90th percentile. Compared to the national median property tax bill of $2,400, McHenry's rates are considerably higher, affecting homeowners' financial planning and budgets. Ownwell offers a solution by helping homeowners potentially reduce their property tax bills through expert appeal and exemption services. By analyzing your property's assessed value and comparing it with similar properties, Ownwell identifies opportunities for savings. This service can alleviate the financial burden on homeowners, ensuring they only pay their fair share in property taxes.

Property Tax Bills Across Mchenry, Mchenry County, Illinois

Source: Ownwell

$3,508

$9,978

$16,448

Median Mchenry Tax Bill

$5,541

Median Mchenry County Tax Bill

$6,534

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Mchenry, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60014	N/A	N/A	N/A	N/A	N/A
60050	$2,821	$4,370	$5,666	$7,366	$9,681
60051	$2,794	$3,745	$5,173	$8,032	$10,843
60098	N/A	N/A	N/A	N/A	N/A

Source: Ownwell