Property owners in Lake County paid 2.6% of the value of their homes in property taxes in the third quarter of 2023, which is more than 2.4 times the national average, according to the real estate analysis posted by Lake County Gazette.
The median sales price of a Lake County home in the third quarter of 2023 was $346,000, based on data from the 2,253 properties sold during that time. In 2023, the median tax bill for the county was $9,043, which is 2.6% of the median value of the homes that were taxed.
This is 2.4 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.
The analysis of Lake County real estate data showed homeowners in Cary and Harris Corners paid the highest rates.
The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.
The following table compares Cary with some other cities belonging to Lake County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2023.
| City | Q3 2023 Sales | Q3 2023 Median Price | Median tax 2023 | Effective tax rate |
|---|---|---|---|---|
| Cary | 6 | $160,000 | $7,958 | 5% |
| Harris Corners | 3 | $275,777 | $9,817 | 3.6% |
| Lindenhurst | 71 | $310,000 | $9,931 | 3.2% |
| Zion | 103 | $196,000 | $6,356 | 3.2% |
| Grayslake | 75 | $314,900 | $9,826 | 3.1% |
| Bannockburn | 3 | $785,000 | $23,643 | 3% |
| Buffalo Grove | 124 | $425,000 | $12,647 | 3% |
| Beach Park | 26 | $217,500 | $6,337 | 2.9% |
| Vernon Hills | 101 | $360,900 | $10,400 | 2.9% |
| Lincolnshire | 41 | $549,000 | $16,074 | 2.9% |
| Hainesville | 9 | $265,900 | $7,360 | 2.8% |
| Riverwoods | 18 | $700,000 | $19,335 | 2.8% |
| Winthrop Harbor | 25 | $250,000 | $6,781 | 2.7% |
| Long Grove | 25 | $800,000 | $21,201 | 2.7% |
| Deerfield | 102 | $540,500 | $14,775 | 2.7% |
| Lake Barrington | 31 | $360,000 | $9,316 | 2.6% |
| Libertyville | 103 | $465,000 | $11,929 | 2.6% |
| Antioch | 86 | $333,450 | $8,296 | 2.5% |
| Lakemoor | 9 | $295,000 | $7,483 | 2.5% |
| Round Lake Beach | 93 | $200,000 | $4,997 | 2.5% |
| Round Lake Park | 19 | $185,000 | $4,665 | 2.5% |
| Gurnee | 129 | $340,000 | $8,566 | 2.5% |
| Island Lake | 13 | $265,000 | $6,634 | 2.5% |
| Wauconda | 37 | $320,000 | $8,121 | 2.5% |
| Indian Creek | 3 | $480,000 | $11,797 | 2.5% |
| Lake Villa | 32 | $326,300 | $7,874 | 2.4% |
| North Chicago | 27 | $185,000 | $4,531 | 2.4% |
| Horatio Gardens | 4 | $417,000 | $10,078 | 2.4% |
| Channel Lake | 13 | $210,000 | $4,827 | 2.3% |
| Waukegan | 167 | $210,000 | $4,747 | 2.3% |
| Mundelein | 36 | $288,500 | $6,699 | 2.3% |
| Deer Park | 14 | $588,000 | $13,364 | 2.3% |
| Lake Zurich | 83 | $400,000 | $9,277 | 2.3% |
| Round Lake | 37 | $325,000 | $7,306 | 2.2% |
| Hawthorn Woods | 22 | $669,661 | $14,422 | 2.2% |
| Kildeer | 21 | $830,000 | $18,546 | 2.2% |
| Highland Park | 99 | $727,000 | $15,900 | 2.2% |
| Lotus Woods | 5 | $182,500 | $3,817 | 2.1% |
| Wadsworth | 13 | $490,000 | $10,413 | 2.1% |
| Gages Lake | 38 | $320,000 | $6,801 | 2.1% |
| North Barrington | 20 | $777,000 | $16,509 | 2.1% |
| Lake Bluff | 29 | $650,000 | $13,582 | 2.1% |
| Barrington | 34 | $587,000 | $12,361 | 2.1% |
| Forest Lake | 6 | $344,950 | $7,105 | 2.1% |
| Highwood | 11 | $416,000 | $8,707 | 2.1% |
| Fox Lake | 33 | $285,000 | $5,769 | 2% |
| Green Oaks | 17 | $750,000 | $15,159 | 2% |
| Fox Lake Hills | 6 | $286,000 | $5,339 | 1.9% |
| Venetian Village | 14 | $250,500 | $4,755 | 1.9% |
| Grandwood Park | 26 | $458,750 | $8,745 | 1.9% |
| Lake Catherine | 9 | $280,000 | $5,046 | 1.8% |
| Ingleside Shore | 28 | $300,450 | $5,303 | 1.8% |
| Tower Lakes | 5 | $737,000 | $13,281 | 1.8% |
| Round Lake Heights | 9 | $275,000 | $4,758 | 1.7% |
| Knollwood | 7 | $425,000 | $7,291 | 1.7% |
| Mettawa | 4 | $971,162 | $16,368 | 1.7% |
| Lake Forest | 85 | $995,000 | $17,226 | 1.7% |
| Long Lake | 15 | $261,000 | $4,199 | 1.6% |
| Barrington Hills | 5 | $1,327,000 | $18,697 | 1.4% |
| Mylith Park | 2 | $337,500 | $3,657 | 1.1% |
