Richmond, Mchenry County, Illinois Property Taxes

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Property Taxes in Richmond, Illinois

Median Richmond, Illinois effective property tax rate: 2.33%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Richmond, Illinois home value: $278,085
Median annual Richmond, Illinois tax bill: $6,146, $3,746 higher than the national median property tax bill of $2,400.

How are property taxes in McHenry calculated?

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

Last Updated April 13, 2026

Richmond, Mchenry County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.33%

Estimate Property Tax Bill

$6,479

$6,013

How Does the Richmond Property Tax Calculator Work?

Use this Richmond property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Richmond's median effective tax rate of 2.33% — based on actual property records in McHenry County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Richmond'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 Richmond: rates range from 2.33% in 60071 to 2.33% in 60071, 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 Richmond.

About Richmond Property Taxes

About Property Taxes in Richmond, McHenry, Illinois

Richmond’s median effective property tax rate of 2.33% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the McHenry 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 Richmond. Homeowners in the 60071 ZIP code carry a median effective rate of 2.33%, while those in the lowest ZIP also pay 2.33%. This spread is 0 percentage points across the same city, reflecting how school district boundaries and local assessment districts are drawn across McHenry County.

Richmond 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 Richmond, Mchenry 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 Richmond'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 Richmond, 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 Richmond Tax Rate

2.33%

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 Richmond, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60071	1.96%	2.16%	2.33%	2.49%	2.71%

Source: Ownwell

Property Tax Assessment Values Across Richmond, Mchenry County, Illinois

When examining property taxes in Richmond, 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 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 Richmond.

For example, the median home price in Richmond is $278,085, with tax bills ranging significantly across the county. 60071 has the highest median home price at $278,085.

Property Tax Assessment Values Across Richmond, Mchenry County, Illinois

Source: Ownwell

$167,403

$458,643

$749,883

Median Richmond Market Value

$278,085

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 Richmond, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60071	$95,184	$180,966	$278,085	$368,559	$440,318

Source: Ownwell

Property Tax Bills Across Richmond, Mchenry County, Illinois

Richmond property tax bills are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. Local taxing bodies, including schools, county services, and municipal governments, all help determine the final bill. For homeowners, this means the amount owed can change when the assessed value changes or when local budgets shift.

With a median home price of $278,085, Richmond homeowners often see tax bills that reflect how their property compares with others in the area. The 25th percentile tax bill is $3,717, while the 75th percentile is $8,477 and the 90th percentile reaches $10,263. The median tax bill is $6,146, which is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. That can make property taxes a significant part of housing costs, especially for homeowners whose assessed values rise faster than expected.

Property Tax Bills Across Richmond, Mchenry County, Illinois

Source: Ownwell

$3,967

$10,749

$17,531

Median Richmond Tax Bill

$6,146

Median Mchenry County Tax Bill

$7,056

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Richmond, Mchenry County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60071	$2,575	$3,717	$6,146	$8,477	$10,263

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
McHenry Tax Assessor
Website	mchenryil.devnetwedge.com

Frequently Asked Property Tax Questions in Richmond, Illinois

How are property taxes calculated in Richmond, Illinois?

Property taxes in Richmond, 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 Richmond, Illinois?

To appeal your property taxes in Richmond, 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 Richmond, Illinois?

Common property tax exemptions in Richmond, 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 Richmond, Illinois?

Property tax deadlines in Richmond, 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 Richmond, Illinois?

Ownwell provides professional property tax appeal services in Richmond, 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.