Spring Grove, Mchenry County, Illinois Property Taxes

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

Median Spring Grove, IL effective property tax rate: 2.68%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Spring Grove, IL home value: $318,396
Median annual Spring Grove, IL tax bill: $8,400, $6,000 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Spring Grove, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.68%

Estimate Property Tax Bill

$8,533

$7,918

Ownwell’s Spring Grove Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Spring Grove with just two data points. By entering your property's estimated assessed value, our calculator applies Spring 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 Spring Grove, 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, resulting 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 Spring Grove, located in McHenry County, IL, the effective property tax rate is notably higher than the national median property tax rate of 1.02%. This means property owners in Spring Grove face a significantly higher tax bill compared to the national median property tax bill of $2400. The median property tax rate in Illinois is also higher than the national average, which can be attributed to the state's need to fund local services and infrastructure. While the rates are set to meet budgetary demands, they can pose a substantial financial burden on property owners. Understanding these rates and how they are determined can help property owners in Spring Grove and McHenry County make informed decisions about their property taxes.

Property Tax Rates Across Spring 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 Spring Grove Tax Rate

2.68%

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 Spring Grove, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60081	2.36%	2.54%	2.68%	2.73%	2.84%

Source: Ownwell

Property Tax Assessment Values Across Spring Grove, Mchenry County, Illinois

When examining property taxes in Spring 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 Assessor's Office 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 Spring Grove. For example, the median home price in Spring Grove is $318,396, with tax bills ranging significantly across the county. Zip code 60081 has the highest median home price at $318,396.

Property Tax Assessment Values Across Spring Grove, Mchenry County, Illinois

Source: Ownwell

$134,019

$378,264

$622,508

Median Spring Grove Market Value

$318,396

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 Spring Grove, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60081	$162,438	$243,609	$318,396	$367,558	$418,074

Source: Ownwell

Property Tax Bills Across Spring Grove, Mchenry County, Illinois

In Spring Grove, located in McHenry County, IL, property tax bills are derived from the property's assessed value, which is determined by the local assessor based on the market value. The tax rate is then applied to this assessed value, resulting in the final tax bill. With a median home price of $318,396, property taxes here can be significant. Homeowners in Spring Grove experience a median tax bill of approximately $8,400, notably higher than the national median property tax bill of $2,400. Tax bills can vary, with the 25th percentile at $5,993 and the 90th percentile reaching $11,520. Such high property tax bills can impose a financial burden on homeowners. Ownwell offers a solution by assisting homeowners in appealing their property tax assessments, potentially lowering their tax bills. Our expertise in identifying discrepancies in property assessments and navigating the appeal process ensures homeowners pay only their fair share, providing significant savings and financial relief.

Property Tax Bills Across Spring Grove, Mchenry County, Illinois

Source: Ownwell

$3,508

$9,978

$16,448

Median Spring Grove Tax Bill

$8,400

Median Mchenry County Tax Bill

$6,534

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Spring Grove, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60081	$3,681	$5,993	$8,400	$9,917	$11,520

Source: Ownwell