Cambridge, Henry County, Illinois Property Taxes
Property Taxes in Cambridge, Illinois
Median Cambridge, Illinois effective property tax rate: 2.36%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Cambridge, Illinois home value: $128,596
Median annual Cambridge, Illinois tax bill: $2,870, $470 higher than the national median property tax bill of $2,400.
How are property taxes in Henry calculated?
Property taxes in Cambridge, Illinois 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 Cambridge's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cambridge, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Cambridge, Henry County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.36%
Estimate Property Tax Bill
$3,035
$2,816
How Does the Cambridge Property Tax Calculator Work?
Use this Cambridge property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Cambridge's median effective tax rate of 2.36% — based on actual property records in Henry County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Cambridge's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Cambridge: rates range from 2.36% in 61238 to 2.36% in 61238, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Cambridge.
About Cambridge Property Taxes
About Property Taxes in Cambridge, Henry, Illinois
Cambridge’s median effective property tax rate of 2.36% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects Henry County levies and local taxing districts that shape what homeowners pay on a $128,596 median home value.
Property tax rates are not uniform across Cambridge. The 61238 ZIP code carries the same median effective rate of 2.36%, showing how local boundaries can still keep tax bills consistent within the city. Cambridge’s median property tax bill is $2,870, which is higher than the national median bill of $2,400 and $470 above the Illinois median bill.
Homeowners who believe their assessed value is too high can file a formal appeal with the Henry County Tax Assessor before the June 1, 2026 deadline.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Cambridge, Henry County, Illinois
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, 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.
Below, you can compare Cambridge's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
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 Cambridge Tax Rate
2.36%
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 Henry County Tax Rate
2.16%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cambridge, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61238 | 1.64% | 2.11% | 2.36% | 2.55% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge, Henry County, Illinois
When examining property taxes in Cambridge, 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 Henry 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.
Assessment notices:
In Henry County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Cambridge.
For example, the median home price in Cambridge is $128,596, with tax bills ranging significantly across the county. 61238 has the highest median home price at $128,596.
Property Tax Assessment Values Across Cambridge, Henry County, Illinois
Source: Ownwell
$61,581
$177,236
$292,890
Median Cambridge Market Value
$128,596
Median Henry County Market Value
$132,510
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cambridge, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61238 | $58,950 | $90,712 | $128,596 | $186,338 | $292,430 |
Source: Ownwell
Property Tax Bills Across Cambridge, Henry County, Illinois
Property tax bills in Cambridge are based on the assessed value of a home and the local tax rate set by taxing authorities. When a property is assessed, that value is used to determine how much tax the homeowner owes, so changes in market value can affect the bill.
For Cambridge homeowners, the median home price is $128,596, and the property tax burden can vary widely across the city. The 25th percentile tax bill is $1,888, while the 75th percentile tax bill is $4,464. At the high end, the 90th percentile tax bill reaches $7,060, showing how much bills can increase for higher-valued homes or properties with different assessments.
These taxes help fund local services, but they also directly affect monthly housing costs and long-term affordability. Because property taxes are tied to assessed value, homeowners may see their bills rise even if they have not made major changes to their homes.
Median Cambridge Tax Bill
$2,870
Median Henry County Tax Bill
$2,832
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Cambridge, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61238 | $1,122 | $1,888 | $2,870 | $4,464 | $7,060 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
Links | |
|---|---|
| Henry Tax Assessor | |
| Website | henryil.devnetwedge.com |