Written By Jill Odzer – Lake County Appeal, Commercial Analyst
So, you’re thinking about buying a house in Lake County, and you’ve heard, or know, that the property taxes are high. You’re right! But they vary from town to town and even neighborhood to neighborhood sometimes. As shown in the chart below, an owner of a $200,000 home in Volo would expect to pay $10,665 in property taxes (due to the highest tax rate in the county), but so would an owner of a $558,538 home in Lake Forest!
Are you wondering why the disparity is so high? It has everything to do with expenses within those communities…What is the city’s budget, since it directly impacts your tax bill? How much is spent on schools, pensions (i.e., pensions attributable to services provided, including education), etc.? The tax rates are generally the highest where the density of K—12 students per square mile is the highest.
Something needs to change. Tax rates need to decrease, rather than constantly increase. Property values are still high, but the tax increases still seem to outpace value increases. My suggestion to you is: Get involved! Ask questions of the local authorities. Go to school and village/city meetings. Do whatever you can to help keep a lid on property taxes.
If you own property, then you pay property taxes, and the rate is set by the local taxing bodies. Lake County Appeal makes certain that your assessment is correct so you pay your fair share and no more. We have no control over the tax rate.
| City | Market Value | Assessed Value | 2021 Tax Rate | Total Tax Bill before Exemptions |
| Volo | $ 200,000 | $ 66,660 | 15.998353% | $ 10,665 |
| Beach Park | $ 284,414 | $ 94,795 | 11.250557% | $ 10,665 |
| Round Lake Beach | $ 289,565 | $ 96,512 | 11.050420% | $ 10,665 |
| Gurnee | $ 341,939 | $ 113,968 | 9.357872% | $ 10,665 |
| Vernon Hills | $ 351,433 | $ 117,133 | 9.105070% | $ 10,665 |
| Deerfield | $ 344,909 | $ 114,958 | 9.277300% | $ 10,665 |
| Highland Park | $ 372,279 | $ 124,081 | 8.595214% | $ 10,665 |
| Hawthorn Woods | $ 403,843 | $ 134,601 | 7.923433% | $ 10,665 |
| Lake Zurich | $ 409,446 | $ 136,468 | 7.815002% | $ 10,665 |
| Libertyville | $ 498,474 | $ 166,141 | 6.419236% | $ 10,665 |
| Lake Forest | $ 558,538 | $ 186,161 | 5.728923% | $ 10,665 |
