Ringwood, Mchenry County, Illinois Property Taxes

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

Median Ringwood, IL effective property tax rate: 2.48%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Ringwood, IL home value: $333,567
Median annual Ringwood, IL tax bill: $8,129, $5,729 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Ringwood, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.48%

Estimate Property Tax Bill

$8,272

$7,677

Ownwell’s Ringwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ringwood with just two data points. By entering your property's estimated assessed value, our calculator applies Ringwood’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 Ringwood, Mchenry County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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 Ringwood, located in McHenry County, IL, property owners experience a notable effective property tax rate. The median property tax rate in Illinois stands at 2.48%, which is considerably higher than the national median of 1.02%. This means that residents in Ringwood face a higher property tax burden compared to the national average. Furthermore, McHenry County's rate is among the highest in the state, reflecting the significant financial commitment required from property owners.

Comparing Ringwood’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. highlights the disparity. The national median property tax bill is $2400, making the local rates in Ringwood a crucial consideration for current and prospective homeowners.

Property Tax Rates Across Ringwood, 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 Ringwood Taxx Rate

2.48%

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 Ringwood, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60072	2.27%	2.38%	2.48%	2.53%	2.61%

Source: Ownwell

Property Tax Assessment Values Across Ringwood, Mchenry County, Illinois

When examining property taxes in Ringwood, 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 Ringwood. For example, the median home price in Ringwood is $333,567, with tax bills ranging significantly across the county. Zip code 60072 has the highest median home price at $333,567.

Property Tax Assessment Values Across Ringwood, Mchenry County, Illinois

Source: Ownwell

$134,019

$378,264

$622,508

Median Ringwood Market Value

$333,567

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 Ringwood, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60072	$191,401	$257,139	$333,567	$386,682	$462,651

Source: Ownwell

Property Tax Bills Across Ringwood, Mchenry County, Illinois

In Ringwood, located in McHenry County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the tax bill. In Ringwood, the median home price is $333,567, leading to tax bills that vary widely. For instance, the 25th percentile tax bill is $5,786, while the 75th percentile reaches $9,510, and the 90th percentile climbs to $11,073. Compared to the national median property tax bill of $2,400, homeowners in Ringwood face significantly higher taxes. This can place a considerable financial burden on homeowners, making it crucial to ensure their property is fairly assessed. Ownwell can assist homeowners by reviewing their property assessments and filing appeals if necessary. By leveraging local expertise and data-driven insights, Ownwell helps homeowners potentially lower their property tax bills, ensuring they only pay what is fair and equitable, ultimately leading to substantial savings.

Property Tax Bills Across Ringwood, Mchenry County, Illinois

Source: Ownwell

$3,508

$9,978

$16,448

Median Ringwood Tax Bill

$8,129

Median Mchenry County Tax Bill

$6,534

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Ringwood, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60072	$4,171	$5,786	$8,129	$9,510	$11,073

Source: Ownwell