Osco, Henry County, Illinois Property Taxes
Property Taxes in Osco, Illinois
Median Osco, Illinois effective property tax rate: 2.20%, significantly higher than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Osco, Illinois home value: $149,482
Median annual Osco, Illinois tax bill: $3,231, higher than the national median property tax bill of $2,400.
How are property taxes in Henry calculated?
Property taxes in Osco, 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 Osco's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Osco, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Osco, Henry County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.2%
Estimate Property Tax Bill
$3,289
$3,052
How Does the Osco Property Tax Calculator Work?
Use this Osco property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Osco's median effective tax rate of 2.20% — based on actual property records in Henry County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Osco'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 Osco: rates range from 2.20% in 61274 to 2.20% in 61274, 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 Osco.
About Osco Property Taxes
About Property Taxes in Osco, Henry, Illinois
Osco’s median effective property tax rate of 2.20% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects Henry County property taxes and local levies that shape what homeowners pay each year.
Property tax rates are not uniform across Osco. Homeowners in the 61274 ZIP code carry a median effective rate of 2.20%, while those in the same ZIP code pay 2.20%. This means the rate is consistent across the area, but it still sits above the national median and can translate into a meaningful annual bill.
Osco 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 above 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 Osco, 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 Osco'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 Osco Tax Rate
2.20%
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 Osco, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61274 | 1.58% | 1.94% | 2.20% | 2.38% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Osco, Henry County, Illinois
When examining property taxes in Osco, 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 Osco.
For example, the median home price in Osco is $149,482, with tax bills ranging significantly across the county. 61274 has the highest median home price at $149,482.
Property Tax Assessment Values Across Osco, Henry County, Illinois
Source: Ownwell
$61,581
$177,236
$292,890
Median Osco Market Value
$149,482
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 Osco, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61274 | $67,665 | $107,568 | $149,482 | $298,419 | $475,364 |
Source: Ownwell
Property Tax Bills Across Osco, Henry County, Illinois
Property tax bills in Osco are based on the assessed value of a home, not its market price alone. Local taxing authorities set the tax rate, and the final bill is calculated by applying that rate to the assessed value after any exemptions are considered. For homeowners, this means that changes in assessment can directly affect what is owed each year.
In Osco, the median home price is $149,482, and the median property tax bill is $3,231, which is above the national median property tax bill of $2,400 and above the national median property tax rate of 1.02%. Bills can vary widely, with the 25th percentile at $2,088 and the 75th percentile at $6,520. At the 90th percentile, property tax bills reach $10,990, showing how much higher taxes can be for some homeowners. The highest and lowest median tax bill in the area is $3,231 in ZIP code 61274.
Median Osco Tax Bill
$3,231
Median Henry County Tax Bill
$2,832
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Osco, Henry County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 61274 | $1,245 | $2,088 | $3,231 | $6,520 | $10,990 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Henry Tax Assessor | |
| Website | henryil.devnetwedge.com |