Lake County, IL Property Tax Search
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In-depth Lake County, IL Property Tax Information
Assess all the factors that determine a property's taxes with a detailed report like the sample below. Create a free account and review your selected property's tax rates, value assessments and more.
See detailed property tax information from the sample report for 211 E liberty St, Lake County, IL
Property Tax Calculation
The State of Illinois does not have a statewide property tax. Property taxes are determined at local levels, and pay for services such as schools, libraries, park districts, fire protection districts and others. In Illinois, taxable property includes only real property such as land, buildings or permanent facilities.
Market Value
Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.
Assessed Value
Assessment is the basis upon which taxing authorities tax a property. Real property in Illinois is generally assessed at 1/3 of its market value; however, its agricultural economic value may be substituted if it has been used for farmland for the previous two years.
Exemptions and Taxable Value
Exemptions are available in Lake County, which may lower the property's tax bill. These are deducted from the property's equalized assessed value to give the property's taxable value.
Property Tax
Base tax is calculated by multiplying the property's assessed value by the tax rates applicable to it and is an estimate of what an owner not benefiting from any exemptions would pay.
Current_tax represents the amount the present owner pays including exemptions.
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs. For more information please visit the web pages of Lake County's Assessor and Treasurer or look up this property's current tax situation.
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Lake County Stats for Property Taxes
Explore the charts below for quick facts on Lake County effective tax rates, median real estate taxes paid, home values, income levels and homeownership rates, and compare them to state and nationwide trends.
Effective tax rate (%)
2.74% of Assessed Home Value
2.11% of Assessed Home Value
1.02% of Assessed Home Value
Median real estate taxes paid
$8,609
$5,055
$2,869
Median home value
$313,700
$239,100
$281,900
Median income
$104,553
$78,433
$75,149
Owner occupied housing (%)
73.8%
66.7%
64.8%
Renter occupied housing (%)
26.2%
33.3%
35.2%
Frequently Asked Questions on Property Taxes
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