Woodstock, Mchenry County, Illinois Property Taxes

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

Median Woodstock, IL effective property tax rate: 3.04%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Woodstock, IL home value: $218,766
Median annual Woodstock, IL tax bill: $6,474, $4,074 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Woodstock, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.04%

Estimate Property Tax Bill

$6,650

$6,171

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

Local government entities set tax rates, which can vary widely within Illinois. 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 votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

Woodstock in McHenry County stands out with its effective property tax rate. The city’s rate is notably higher than the national median property tax rate of 1.02%, highlighting a significant difference in property tax burdens. This rate is also a reflection of the local government's budgetary needs and the total value of taxable properties in the area.

Comparing Woodstock’s rate to other cities in Illinois and the median property tax rates in the state and the U.S. can provide valuable insights for property owners. Understanding these differences is crucial for homeowners looking to manage their property tax liabilities effectively, as they navigate the complexities of property tax appeals and exemptions.

Property Tax Rates Across Woodstock, 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 Woodstock Taxx Rate

3.04%

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 Woodstock, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60098	2.53%	2.77%	3.04%	3.20%	3.44%

Source: Ownwell

Property Tax Assessment Values Across Woodstock, Mchenry County, Illinois

When examining property taxes in Woodstock, 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 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 Woodstock. For example, the median home price in Woodstock is $218,766, with tax bills ranging significantly across the county. ZIP code 60098 has the highest median home price at $218,766.

Property Tax Assessment Values Across Woodstock, Mchenry County, Illinois

Source: Ownwell

$134,019

$378,264

$622,508

Median Woodstock Market Value

$218,766

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 Woodstock, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60098	$116,321	$157,779	$218,766	$286,230	$366,023

Source: Ownwell

Property Tax Bills Across Woodstock, Mchenry County, Illinois

In Woodstock, located in McHenry County, IL, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as location, property type, and any applicable exemptions can influence the final amount. Homeowners in Woodstock face a median property tax bill of $6,474, significantly higher than the national median of $2,400. This can place a substantial financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%. Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By leveraging our expertise, homeowners can potentially lower their assessed value and, consequently, their tax bill. Our team works diligently to ensure that homeowners pay only their fair share, helping them save money and alleviate financial stress associated with high property taxes.

Property Tax Bills Across Woodstock, Mchenry County, Illinois

Source: Ownwell

$3,508

$9,978

$16,448

Median Woodstock Tax Bill

$6,474

Median Mchenry County Tax Bill

$6,534

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,690

Property Tax Bills Across Woodstock, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60098	$3,149	$4,577	$6,474	$8,592	$10,707

Source: Ownwell