Coal Valley, Henry County, Illinois Property Taxes
Property Taxes in Coal Valley, Illinois
Median Coal Valley, Illinois effective property tax rate: 2.09%, significantly lower than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Coal Valley, Illinois home value: $292,890
Median annual Coal Valley, Illinois tax bill: $5,807, higher by $3,407 than the national median property tax bill of $2,400.
How are property taxes in Henry calculated?
Property taxes in Coal Valley, 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 Coal Valley's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Coal Valley, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Coal Valley, Henry County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.09%
Estimate Property Tax Bill
$6,121
$5,680
How Does the Coal Valley Property Tax Calculator Work?
Use this Coal Valley property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Coal Valley's median effective tax rate of 2.09% — 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 Coal Valley'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 Coal Valley: rates are 2.09% in 61240, 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 Coal Valley.
About Coal Valley Property Taxes
About Property Taxes in Coal Valley, Henry, Illinois
Coal Valley’s median effective property tax rate of 2.09% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Henry County base levy combined with local school district levies and special service areas that vary by subdivision throughout the city.
Property tax rates are not uniform across Coal Valley. Homeowners in the 61240 ZIP code carry a median effective rate of 2.09%, while those in the same ZIP also pay a median tax bill of $5,807. This reflects how school district boundaries and local assessment districts are drawn across Henry County. Understanding where you live in Coal Valley can make a meaningful difference to your annual tax bill.
Coal Valley 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 Coal Valley, 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 Coal Valley'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 Coal Valley Tax Rate
2.09%
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 Coal Valley, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61240 | 1.79% | 1.96% | 2.09% | 2.21% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Coal Valley, Henry County, Illinois
When examining property taxes in Coal Valley, 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 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.
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 Coal Valley.
For example, the median home price in Coal Valley is $292,890, with tax bills ranging significantly across the county. 61240 has the highest median home price at $292,890.
Property Tax Assessment Values Across Coal Valley, Henry County, Illinois
Source: Ownwell
$61,581
$177,236
$292,890
Median Coal Valley Market Value
$292,890
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 Coal Valley, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61240 | $143,292 | $220,230 | $292,890 | $416,252 | $530,247 |
Source: Ownwell
Property Tax Bills Across Coal Valley, Henry County, Illinois
Property tax bills in Coal Valley are calculated from the assessed value of a home and the local tax rate set by taxing authorities. The assessed value is based on the market value of the property, and that value is then multiplied by the applicable tax rate to determine the bill. For homeowners in Coal Valley, this means the amount owed can change when home values rise or when local budgets shift.
Several factors affect the final tax bill, including the home’s market value, local government spending, school district levies, and other taxing districts. With a median home price of $292,890, property taxes can represent a significant annual cost for homeowners. In Henry County, the median property tax bill is $5,807, which is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. Higher bills can increase monthly housing costs and make it especially important for homeowners to understand how their property is assessed.
Median Coal Valley Tax Bill
$5,807
Median Henry County Tax Bill
$2,832
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Coal Valley, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61240 | $2,224 | $4,111 | $5,807 | $8,813 | $11,497 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Henry Tax Assessor | |
| Website | henryil.devnetwedge.com |