Mchenry, Lake County, Illinois Property Taxes

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Property Taxes in Mchenry, Illinois

Median McHenry, Illinois effective property tax rate: 2.11%, significantly lower than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median McHenry, Illinois home value: $286,921
Median annual McHenry, Illinois tax bill: $5,810, $3,410 higher than the national median property tax bill of $2,400.

How are property taxes in Lake calculated?

Property taxes in McHenry, 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 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 April 13, 2026

Mchenry, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.11%

Estimate Property Tax Bill

$6,054

$5,618

How Does the McHenry Property Tax Calculator Work?

Use this McHenry property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies McHenry's median effective tax rate of 2.11% — based on actual property records in Lake 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 McHenry'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 McHenry: rates range from $5,207.00 in 60051 to $6,963.00 in 60050, primarily due to differences in school district levies and local assessment districts.

McHenry's median property tax rate is higher than the 1.02% national median, and the $5,810 median property tax bill is also higher than the $2,400 national median bill. For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across McHenry.

About Mchenry Property Taxes

About Property Taxes in McHenry, Lake, Illinois

McHenry’s median effective property tax rate of 2.11% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects Lake County’s tax structure and the local levies that shape what homeowners pay across the city.

Property tax rates are not uniform across McHenry. Homeowners in the 60050 ZIP code carry a median effective rate of 2.25%, while those in 60051 pay 2.06%. That spread — 0.19 percentage points across the same city — can make a meaningful difference in your annual tax bill.

McHenry homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.

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 Mchenry, Lake 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 Mchenry's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.

Property Tax Rates Across Mchenry, Lake County, Illinois

Source: Ownwell

1.87%

2.68%

3.49%

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 Tax Rate

2.11%

Median Effective Lake County Tax Rate

2.61%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mchenry, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60050	1.92%	2.13%	2.25%	2.42%	2.58%
60051	1.63%	1.83%	2.06%	2.26%	2.43%

Source: Ownwell

Property Tax Assessment Values Across Mchenry, Lake County, Illinois

When examining property taxes in McHenry, 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 Lake County assessment 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.

Assessment notices:

In Lake 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 McHenry.

For example, the median home price in McHenry is $286,921, with tax bills ranging significantly across the county. 60050 has the highest median home price at $316,280.

Property Tax Assessment Values Across Mchenry, Lake County, Illinois

Source: Ownwell

$153,792

$627,201

$1,100,609

Median Mchenry Market Value

$286,921

Median Lake County Market Value

$317,980

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mchenry, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60050	$193,188	$245,670	$316,280	$394,465	$457,463
60051	$132,053	$210,622	$269,426	$369,010	$421,778

Source: Ownwell

Property Tax Bills Across Mchenry, Lake County, Illinois

Property tax bills in McHenry are based on the assessed value of a home and the local tax rate set by taxing authorities in Lake County. When a home’s market value rises, the assessed value can increase too, which may lead to a higher tax bill if the tax rate stays the same. Homeowners also see differences based on where they live within the city, since local levies and district funding needs can vary by area.

For McHenry homeowners, the impact is significant because bills can vary widely from one property to another. The median home price is $286,921, while the 25th percentile tax bill is $4,008 and the 75th percentile tax bill is $7,935. At the high end, the 90th percentile tax bill reaches $9,672. Even within nearby ZIP codes, the highest median tax bill is $6,963 in 60050 and the lowest median tax bill is $5,207 in 60051.

Property Tax Bills Across Mchenry, Lake County, Illinois

Source: Ownwell

$4,033

$14,221

$24,409

Median Mchenry Tax Bill

$5,810

Median Lake County Tax Bill

$8,402

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Mchenry, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60050	$3,586	$5,452	$6,963	$8,854	$9,912
60051	$2,256	$3,871	$5,207	$7,576	$9,619

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	July 1

Links
Lake Tax Assessor
Website	tax.lakecountyil.gov

Frequently Asked Property Tax Questions in Mchenry, Illinois

How are property taxes calculated in Mchenry, Illinois?

Property taxes in Mchenry, Illinois are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Mchenry, Illinois?

To appeal your property taxes in Mchenry, Illinois, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Mchenry, Illinois?

Common property tax exemptions in Mchenry, Illinois include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Mchenry, Illinois?

Property tax deadlines in Mchenry, Illinois vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Mchenry, Illinois?

Ownwell provides professional property tax appeal services in Mchenry, Illinois. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.