Real Estate Values and Property Tax Valuation in Lake County, Illinois

Lake County has a total of 223,914 properties, with a cumulative value of $70.9B, making up 10.10% of all real estate value in Illinois. Property taxes in Lake County are collected on these properties, amounting to a total of $1.9B. The average Lake County homeowner pays $8,841 in property taxes, which is significantly higher than the state average of $5,405. The average property tax rate in Lake County is 2.73%, which is higher than the state average of 2.47%. Property taxes are calculated based on the assessed value of the property, which is typically lower than the market value.

In Illinois, property taxes are based on the value of the property as of January 1st. Property owners have the option to appeal their property taxes between June and December, or within 30 days of when the notices are published. Property tax bills are issued on February 1st and July 1st, with the first installment due on June 1st in Cook County. This first installment is estimated at 55% of the prior year's tax bill, with taxes paid in arrears.

Important Dates
Property Valuation Date:January 1st
Property Tax Appeal Deadline:June - December or 30 days after notices are published
Property Tax Bills Issued:February 1st and July 1st
Real Property Tax Bill Due (1st of #):June, Two installments but due dates may vary by county March 1st, Cook County - 1st half installment, estimated at 55% of prior year tax bill with taxes paid in arrears.
Real Property Tax Bill Due (2nd of #):September, Two installments but due dates may vary by county August 1, Cook County - 2nd half installment - TARGETED but may be delayed - due 30 days after being issued. Reconciled installment using the BOR certified AV, actual local tax rate, and final state equalization factor, less the estimated 1st installment with taxes paid in arrears
Available Exemptions
SeniorAvailable
DisabledAvailable
HomesteadAvailable
VeteranAvailable
Solar/WindAvailable
CharitableAvailable

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Real Estate Statistics in Lake County

Total Real Estate Value
$70.9B
Total Real Property Taxes
$1.9B
Average Property Tax Rate
2.73%
# of Real Properties
223.9K

Residential Property Taxes by Cities in Lake County

Lake County has an average property tax rate of 2.73%, which is slightly higher than the national average of 2.19%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Lake County are collected by the county and distributed to local governments, schools, and other entities.

Property tax rates in Lake County vary across cities, with Zion having the highest effective property tax rate at 3.94%, and Lake Forest having the lowest effective property tax rate at 1.91%. This means that property owners in Zion will pay more in taxes than those in Lake Forest. However, the average property tax rate in Lake County is still lower than the national average, making it an attractive option for homeowners.

Tax Assessment Value

The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Lake County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Antioch$100,878$145,378$210,698$279,373$341,694
Barrington$222,832$304,467$424,501$564,785$709,976
Beach Park$102,660$135,662$168,212$220,224$264,130
Buffalo Grove$207,663$263,938$363,761$444,605$553,735
Cary$113,159$178,793$273,881$474,897$638,316
Deerfield$197,115$298,590$436,316$576,403$792,776
Deer Park$376,938$445,782$525,042$603,736$705,747
Fox Lake$52,286$110,345$148,470$217,760$288,698
Grayslake$0$150,334$207,069$280,722$333,638
Gurnee$134,467$175,443$254,035$327,318$389,542
Hainesville$130,990$145,346$180,273$219,038$253,718
Hawthorn Woods$351,795$421,749$484,312$565,678$659,653
Highland Park$237,360$330,940$465,598$679,514$933,353
Highwood$165,681$224,892$284,414$412,025$590,763
Ingleside$94,619$134,575$181,225$245,425$331,027
Island Lake$114,018$146,883$179,304$234,876$284,670
Kildeer$433,988$504,400$591,413$710,807$902,202
Lake Barrington$222,881$307,902$439,704$585,982$705,988
Lake Bluff$181,620$274,991$451,424$659,257$997,909
Lake Forest$397,801$564,736$740,828$1,091,370$1,596,981
Lakemoor$37,911$133,270$178,606$231,302$262,937
Lake Villa$110,221$155,405$214,003$279,786$347,209
Lake Zurich$203,606$256,983$324,274$399,683$483,704
Libertyville$230,831$329,397$435,319$559,406$744,984
Lincolnshire$249,734$331,285$457,594$568,615$717,058
Lindenhurst$144,976$179,699$211,308$265,428$324,147
Long Grove$448,405$522,424$617,894$745,634$900,775
Mchenry$112,642$163,565$205,941$268,901$326,514
Mundelein$148,491$182,170$234,380$332,798$417,323
North Barrington$331,835$445,664$580,984$746,974$893,363
North Chicago$59,958$73,300$93,759$116,418$144,942
Park City$0$0$124,102$151,242$179,392
Riverwoods$435,456$534,219$633,193$822,350$1,022,616
Round Lake Beach$86,162$117,237$143,711$181,353$209,392
Round Lake Heights$92,163$116,136$183,841$208,974$235,365
Round Lake Park$0$76,204$108,586$149,082$184,266
Round Lake$102,798$149,274$190,454$246,032$283,347
Spring Grove$47,937$99,309$149,908$203,428$271,324
Third Lake$193,622$226,120$254,695$309,874$439,586
Tower Lakes$261,269$339,632$424,362$501,800$605,641
Vernon Hills$126,568$172,112$320,663$411,797$565,823
Volo$149,711$180,422$226,235$274,668$308,903
Wadsworth$147,083$192,574$267,351$346,265$457,969
Wauconda$114,500$160,000$216,717$307,080$361,077
Waukegan$80,316$104,659$131,278$166,394$212,010
Winthrop Harbor$104,157$136,463$183,033$234,735$273,401
Zion$81,706$100,822$127,813$175,938$214,655

Property Tax Bill

This table shows the percentiles of actual property tax paid on residential properties for each city in Lake County.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Antioch$2,610$4,186$6,413$8,871$10,983
Barrington$4,695$6,782$9,923$13,153$16,765
Beach Park$3,065$4,157$5,360$6,965$8,370
Buffalo Grove$5,834$7,938$10,963$13,442$16,820
Cary$2,542$4,426$7,044$12,593$17,290
Deerfield$5,089$8,103$12,269$16,443$22,907
Deer Park$8,123$9,750$11,648$13,266$15,477
Fox Lake$1,172$2,541$4,128$6,060$8,424
Grayslake$4,141$5,727$7,705$10,515$12,525
Gurnee$3,430$4,743$7,009$9,221$11,085
Hainesville$3,965$4,510$6,625$8,403$10,037
Hawthorn Woods$8,709$10,780$12,769$15,297$18,153
Highland Park$5,712$8,556$12,285$18,266$25,463
Highwood$3,572$5,514$7,278$11,036$15,520
Ingleside$1,906$3,056$4,466$6,274$8,920
Island Lake$2,797$3,933$5,058$6,690$8,288
Kildeer$10,199$12,377$15,679$19,684$27,162
Lake Barrington$4,604$6,818$10,359$13,823$16,768
Lake Bluff$4,382$6,759$9,907$14,537$21,947
Lake Forest$7,271$10,541$14,506$21,056$30,522
Lakemoor$886$2,902$4,686$6,634$7,576
Lake Villa$2,927$4,369$6,817$9,808$12,088
Lake Zurich$4,562$5,925$7,712$9,644$11,918
Libertyville$5,252$7,877$10,922$14,467$19,405
Lincolnshire$6,003$8,738$12,441$15,721$19,914
Lindenhurst$5,247$6,248$7,930$10,440$12,801
Long Grove$13,004$15,267$18,619$22,488$27,227
Mchenry$1,970$4,177$5,416$7,480$9,151
Mundelein$4,209$5,418$7,048$9,973$12,453
North Barrington$7,293$9,932$13,489$17,695$20,856
North Chicago$1,390$2,282$3,210$4,356$5,431
Park City$3,324$3,866$4,378$5,097$6,195
Riverwoods$10,725$13,324$16,100$21,020$26,805
Round Lake Beach$2,318$3,415$4,460$6,147$7,693
Round Lake Heights$2,478$3,355$5,437$6,542$7,420
Round Lake Park$1,825$2,836$3,842$5,406$6,735
Round Lake$3,401$4,788$6,521$8,442$10,230
Spring Grove$1,081$2,178$3,564$5,136$7,209
Third Lake$6,748$7,932$9,296$11,166$15,801
Tower Lakes$6,048$8,204$10,576$12,742$15,561
Vernon Hills$3,549$4,572$8,943$12,062$16,445
Volo$4,254$5,201$6,609$8,291$9,361
Wadsworth$4,896$6,041$8,586$11,168$15,028
Wauconda$3,441$4,850$6,837$9,695$11,400
Waukegan$1,929$2,894$3,921$5,200$6,756
Winthrop Harbor$3,151$4,244$5,848$7,710$9,325
Zion$2,929$4,087$5,459$7,208$8,790

Effective Property Tax Rate

The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Antioch 2.59% 2.88% 3.04% 3.18% 3.21%
Barrington 2.11% 2.23% 2.34% 2.33% 2.36%
Beach Park 2.99% 3.06% 3.19% 3.16% 3.17%
Buffalo Grove 2.81% 3.01% 3.01% 3.02% 3.04%
Cary 2.25% 2.48% 2.57% 2.65% 2.71%
Deerfield 2.58% 2.71% 2.81% 2.85% 2.89%
Deer Park 2.15% 2.19% 2.22% 2.20% 2.19%
Fox Lake 2.24% 2.30% 2.78% 2.78% 2.92%
Grayslake- 3.81% 3.72% 3.75% 3.75%
Gurnee 2.55% 2.70% 2.76% 2.82% 2.85%
Hainesville 3.03% 3.10% 3.67% 3.84% 3.96%
Hawthorn Woods 2.48% 2.56% 2.64% 2.70% 2.75%
Highland Park 2.41% 2.59% 2.64% 2.69% 2.73%
Highwood 2.16% 2.45% 2.56% 2.68% 2.63%
Ingleside 2.01% 2.27% 2.46% 2.56% 2.69%
Island Lake 2.45% 2.68% 2.82% 2.85% 2.91%
Kildeer 2.35% 2.45% 2.65% 2.77% 3.01%
Lake Barrington 2.07% 2.21% 2.36% 2.36% 2.38%
Lake Bluff 2.41% 2.46% 2.19% 2.21% 2.20%
Lake Forest 1.83% 1.87% 1.96% 1.93% 1.91%
Lakemoor 2.34% 2.18% 2.62% 2.87% 2.88%
Lake Villa 2.66% 2.81% 3.19% 3.51% 3.48%
Lake Zurich 2.24% 2.31% 2.38% 2.41% 2.46%
Libertyville 2.28% 2.39% 2.51% 2.59% 2.60%
Lincolnshire 2.40% 2.64% 2.72% 2.76% 2.78%
Lindenhurst 3.62% 3.48% 3.75% 3.93% 3.95%
Long Grove 2.90% 2.92% 3.01% 3.02% 3.02%
Mchenry 1.75% 2.55% 2.63% 2.78% 2.80%
Mundelein 2.83% 2.97% 3.01% 3.00% 2.98%
North Barrington 2.20% 2.23% 2.32% 2.37% 2.33%
North Chicago 2.32% 3.11% 3.42% 3.74% 3.75%
Park City-- 3.53% 3.37% 3.45%
Riverwoods 2.46% 2.49% 2.54% 2.56% 2.62%
Round Lake Beach 2.69% 2.91% 3.10% 3.39% 3.67%
Round Lake Heights 2.69% 2.89% 2.96% 3.13% 3.15%
Round Lake Park- 3.72% 3.54% 3.63% 3.66%
Round Lake 3.31% 3.21% 3.42% 3.43% 3.61%
Spring Grove 2.26% 2.19% 2.38% 2.52% 2.66%
Third Lake 3.49% 3.51% 3.65% 3.60% 3.59%
Tower Lakes 2.31% 2.42% 2.49% 2.54% 2.57%
Vernon Hills 2.80% 2.66% 2.79% 2.93% 2.91%
Volo 2.84% 2.88% 2.92% 3.02% 3.03%
Wadsworth 3.33% 3.14% 3.21% 3.23% 3.28%
Wauconda 3.01% 3.03% 3.15% 3.16% 3.16%
Waukegan 2.40% 2.77% 2.99% 3.13% 3.19%
Winthrop Harbor 3.03% 3.11% 3.20% 3.28% 3.41%
Zion 3.58% 4.05% 4.27% 4.10% 4.09%

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Real Estate Values in Lake County

The median home price in Lake County, Illinois has increased by 9.38% from October 2022 to October 2023, from $320.0K to $350.0K. This is a positive trend for the housing market in the area. However, the home inventory in Lake County has decreased from 2.4K in October 2022 to 1.8K in October 2023, indicating that there is a shortage of homes available for sale in the area.

Median Sale Value
$350.0K
Total Active Listings
1.8K
Annual percent change in median sale price
9.38%

Average Home Value in Lake County, Illinois

Last updated: November 2023

Percent Change in Total Home Sales in Lake County

Last updated: November 2023

Percent Change in New Home Listings in Lake County

Last updated: November 2023

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Mortgage Rates in Lake County

Mortgages in Lake County are a significant part of the local economy, with a total outstanding loan amount of $27.8 billion across 137.8 thousand loans. This represents a significant portion of the total home value in the county, with the average loan amount being approximately $202,000. The median mortgage rate across the county varies significantly, ranging from 4.12% in Volo to 6% in North Chicago. This variation in rates can be attributed to the different economic conditions in each city, as well as the availability of different loan products. Overall, mortgages in Lake County are an important part of the local economy, and the variation in rates across cities provides borrowers with a variety of options to choose from.

# of Outstanding Loans
137.8K
Total Outstanding Loan Amount
$27.8B
Properties with Loans
61.56%

Outstanding Mortgages

The table below shows the percentile distribution of outstanding loans on residential properties in Lake County by city.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Antioch$52,864$91,976$140,012$197,697$263,819
Barrington$70,579$134,483$244,533$359,820$491,289
Beach Park$47,812$81,404$121,833$165,146$206,307
Buffalo Grove$58,318$115,057$197,541$293,885$376,098
Cary$51,876$106,829$191,024$324,168$434,701
Deerfield$64,330$123,912$236,241$370,066$529,149
Deer Park$94,084$181,973$296,604$395,420$504,704
Fox Lake$40,262$74,420$114,965$176,736$239,231
Grayslake$48,768$88,322$140,545$201,458$263,509
Gurnee$42,808$84,142$144,607$221,979$296,955
Hainesville$50,336$81,142$109,218$147,906$192,947
Hawthorn Woods$114,737$217,247$318,467$399,889$486,978
Highland Park$83,375$168,205$289,933$436,700$614,108
Highwood$56,042$116,949$184,114$274,392$365,339
Ingleside$39,857$73,732$116,817$175,467$240,013
Island Lake$48,159$77,530$116,568$168,555$230,517
Kildeer$108,568$233,168$353,580$477,605$582,137
Lake Barrington$84,697$148,503$268,644$387,165$526,735
Lake Bluff$66,266$129,754$244,611$388,505$603,610
Lake Forest$116,109$238,858$402,287$633,906$941,679
Lakemoor$55,934$85,107$123,583$171,314$224,365
Lake Villa$51,975$90,077$144,847$210,950$275,025
Lake Zurich$57,057$113,033$191,011$274,379$345,035
Libertyville$67,510$132,362$244,906$352,924$486,356
Lincolnshire$79,690$156,774$266,888$377,601$500,472
Lindenhurst$51,055$88,073$135,725$196,937$260,417
Long Grove$134,647$249,671$351,448$477,512$612,589
Mchenry$64,867$114,515$155,643$210,353$286,971
Mundelein$45,716$86,285$143,880$216,506$294,955
North Barrington$120,918$210,636$322,253$483,580$668,604
North Chicago$23,905$42,180$69,404$102,357$136,431
Park City$40,438$70,960$98,185$133,015$186,275
Riverwoods$79,761$203,202$331,134$484,424$635,765
Round Lake Beach$31,771$57,449$89,149$132,243$173,855
Round Lake Heights$45,797$74,473$104,213$143,226$193,728
Round Lake Park$28,914$53,539$85,261$122,172$166,860
Round Lake$62,133$92,210$128,658$174,496$224,040
Spring Grove$33,812$72,721$112,900$170,361$238,763
Third Lake$74,027$110,665$171,607$217,332$289,147
Tower Lakes$76,593$146,764$259,882$331,655$418,350
Vernon Hills$50,581$91,893$166,141$274,082$369,486
Volo$91,937$122,107$164,347$206,635$243,949
Wadsworth$65,839$110,387$162,632$248,375$326,997
Wauconda$51,234$93,810$146,327$208,523$264,725
Waukegan$26,327$49,561$81,030$119,484$161,758
Winthrop Harbor$37,560$70,508$115,144$164,940$212,499
Zion$37,886$65,903$101,170$141,541$185,667

Mortgage Rates

The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Lake County.

City10th Percentile25th PercentileMedian75th Percentile90th Percentile
Antioch 3.00% 3.75% 4.84% 6.38% 7.36%
Barrington 2.90% 3.50% 4.37% 6.22% 7.28%
Beach Park 3.12% 3.87% 4.87% 6.27% 7.36%
Buffalo Grove 2.99% 3.64% 4.55% 6.47% 7.55%
Cary 3.25% 3.87% 4.77% 6.34% 7.32%
Deerfield 3.00% 3.66% 4.62% 6.50% 7.52%
Deer Park 2.99% 3.62% 4.50% 6.31% 7.26%
Fox Lake 2.99% 3.70% 4.62% 6.21% 7.22%
Grayslake 3.00% 3.75% 4.75% 6.55% 7.64%
Gurnee 3.05% 3.83% 4.90% 6.75% 7.69%
Hainesville 3.13% 3.87% 5.10% 6.54% 7.76%
Hawthorn Woods 2.99% 3.50% 4.20% 5.86% 7.06%
Highland Park 2.90% 3.55% 4.40% 6.25% 7.27%
Highwood 3.12% 3.75% 4.75% 6.70% 7.77%
Ingleside 3.09% 3.87% 4.87% 6.62% 7.69%
Island Lake 3.25% 3.87% 4.87% 6.54% 7.49%
Kildeer 2.88% 3.49% 4.25% 6.23% 7.25%
Lake Barrington 2.90% 3.50% 4.40% 6.35% 7.25%
Lake Bluff 2.90% 3.50% 4.49% 6.31% 7.39%
Lake Forest 2.87% 3.41% 4.25% 6.07% 7.19%
Lakemoor 3.00% 3.87% 5.32% 6.41% 7.43%
Lake Villa 3.00% 3.75% 4.86% 6.68% 7.69%
Lake Zurich 3.00% 3.75% 4.62% 6.46% 7.55%
Libertyville 2.99% 3.60% 4.50% 6.39% 7.50%
Lincolnshire 2.87% 3.50% 4.25% 6.00% 7.17%
Lindenhurst 3.05% 3.75% 4.85% 6.73% 7.70%
Long Grove 2.88% 3.50% 4.30% 6.02% 7.18%
Mchenry 2.99% 3.62% 4.50% 6.21% 7.12%
Mundelein 3.09% 3.77% 4.84% 6.70% 7.72%
North Barrington 2.87% 3.49% 4.25% 6.12% 7.30%
North Chicago 3.37% 4.37% 6.00% 7.20% 8.00%
Park City 3.54% 4.25% 5.86% 7.15% 7.80%
Riverwoods 2.97% 3.57% 4.50% 6.50% 7.45%
Round Lake Beach 3.25% 4.10% 5.50% 6.93% 7.81%
Round Lake Heights 3.25% 4.12% 5.77% 6.82% 7.44%
Round Lake Park 3.25% 4.00% 5.43% 6.99% 7.96%
Round Lake 3.12% 3.76% 4.75% 6.10% 7.07%
Spring Grove 3.00% 3.75% 4.86% 6.70% 7.77%
Third Lake 2.99% 3.75% 4.62% 6.50% 7.51%
Tower Lakes 2.95% 3.60% 4.55% 6.37% 7.31%
Vernon Hills 3.00% 3.75% 4.75% 6.45% 7.37%
Volo 2.99% 3.50% 4.12% 5.00% 6.20%
Wadsworth 3.02% 3.75% 4.62% 6.34% 7.43%
Wauconda 3.13% 3.87% 4.87% 6.37% 7.50%
Waukegan 3.37% 4.12% 5.75% 7.11% 7.97%
Winthrop Harbor 3.00% 3.75% 4.93% 6.70% 7.73%
Zion 3.12% 3.87% 4.96% 6.50% 7.68%

Housing Expenses in Lake County, Illinois

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Frequently asked questions

We currently operate in Texas, California, Washington, Georgia, Florida and Illinois.
We use a private national data provider that cross-references with county recorder's offices to verify ownership. If in the event our system is unable to verify the property, our team will take further steps to investigate ownership and reach out to the customer for confirmation.
Our success rate varies across geographies; however, in any given year, we typically win more than 70% of our cases, saving clients an average of $1,457 on their property taxes.
Yes, in the market areas we serve, we have a dedicated Property Tax Consultant that is physically present in the market they are servicing. The specialist assigned to your property has the necessary geographical competence to provide exemplary service!
The average property tax rate in Lake County is 2.73%.
The following exemptions and discounts are available in Lake County: Charitable, Disabled, Homestead and Senior