Garden Prairie, Mchenry County, Illinois Property Taxes

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

Median Garden Prairie, IL effective property tax rate: 2.44%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Garden Prairie, IL home value: $215,616
Median annual Garden Prairie, IL tax bill: $4,596, $2,196 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated March 1, 2025

Garden Prairie, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.8%

Estimate Property Tax Bill

$4,774

$4,430

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

Local government entities set tax rates, which can vary widely within a state. 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 Garden Prairie’s effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S. Garden Prairie, located in McHenry County, has a median property tax rate of 2.44%, which is significantly higher than the national median property tax rate of 1.02%. In fact, Garden Prairie shares the highest median tax rate in Illinois, making it a key area for property owners to consider appealing their property taxes. With the national median property tax bill at $2,400, property owners in Garden Prairie may find their bills considerably higher, emphasizing the importance of exploring potential savings through property tax appeals and exemptions.

Property Tax Rates Across Garden Prairie, Mchenry County, Illinois

Source: Ownwell

1.80%

2.34%

2.88%

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 Garden Prairie Tax Rate

1.80%

Median Effective Mchenry County Tax Rate

2.42%

Median Effective Illinois Tax Rate

2.33%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Garden Prairie, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61038	1.41%	1.58%	1.80%	2.21%	2.39%

Source: Ownwell

Property Tax Assessment Values Across Garden Prairie, Mchenry County, Illinois

When examining property taxes in Garden Prairie, 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 McHenry 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 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 Garden Prairie. For example, the median home price in Garden Prairie is $215,616, with tax bills ranging significantly across the county. 61038 has the highest median home price at $215,616.

Property Tax Assessment Values Across Garden Prairie, Mchenry County, Illinois

Source: Ownwell

$167,403

$458,643

$749,883

Median Garden Prairie Market Value

$265,224

Median Mchenry County Market Value

$297,576

Median Illinois Market Value

$227,888

Median United States Market Value

$235,294

Property Tax Assessment Values Across Garden Prairie, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61038	$158,250	$216,426	$265,224	$314,754	$364,668

Source: Ownwell

Property Tax Bills Across Garden Prairie, Mchenry County, Illinois

In Garden Prairie, located in McHenry County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Garden Prairie face a median property tax bill of $4,596, significantly higher than the national median of $2,400. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions. 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 identifying potential savings through property tax appeals and exemptions. By leveraging expertise and local knowledge, Ownwell can help reduce the assessed value or apply eligible exemptions, ultimately lowering the annual tax bill. This service provides homeowners with peace of mind and potential savings, making property ownership more affordable.

Property Tax Bills Across Garden Prairie, Mchenry County, Illinois

Source: Ownwell

$3,967

$10,749

$17,531

Median Garden Prairie Tax Bill

$4,334

Median Mchenry County Tax Bill

$7,056

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Garden Prairie, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61038	$2,937	$3,418	$4,334	$6,288	$7,715

Source: Ownwell