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Lake County Gazette

Saturday, November 23, 2024

Analysis: Barrington pays property taxes two times national average

Barringtonhome

This four-bedroom home, 213 Whitney Drive in Barrington, has a property tax bill of $13,945 | zillow.com

This four-bedroom home, 213 Whitney Drive in Barrington, has a property tax bill of $13,945 | zillow.com

Property owners in Barrington paid nearly 2.5 percent of the value of their home in taxes last year. That’s more than two times the national average, according to an LGIS analysis of real estate sales data in Lake County from Jan 1. to June 30. 

Local Government Information Service (LGIS) publishes the Lake County Gazette.

Barrington, population 10,312, recorded a median sale price of $412,500, based on data from the 63 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $9,870, according county tax data from Lake County Assessment Office.

That’s 2.39 percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $412,500 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $3,671, or nearly $6,200 less per year.

The analysis, including 65 Lake County communities, shows homeowners in Grayslake, Zion, Volo and Hainesville pay the highest property taxes in the county: 4 percent or more of their homes' value each year.

Property owners in Round Lake, Lakemoor, Lake Villa, Lindenhurst, Beach Park, Third Lake, Round Lake Heights, Winthrop Harbor, Long Grove and Lincolnshire, all have median effective property tax rates higher than 3 percent

Illinois homeowners pay the second-highest property taxes in the country with an effective median rate of 2.32 percent, just behind those in New Jersey's (2.28 percent). 

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Lake County communities paying the highest effective property tax rates

The following table ranks Lake County communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

CityJan - June 2018 SalesJan - June 2018 Median PriceMedian taxEffective tax rate
Zion182$116,603$4,9874.28%
Volo14$245,500$9,8544.01%
Hainesville50$140,295$5,6284.01%
Grayslake220$209,500$8,3804.00%
Lakemoor14$190,500$6,8603.60%
Lake Villa90$221,750$7,9643.59%
Lindenhurst152$201,000$7,1703.57%
Beach Park74$155,843$5,3683.44%
Third Lake10$281,750$9,6333.42%
Round Lake122$197,000$6,7133.41%
Round Lake Heights13$157,000$5,1043.25%
Winthrop Harbor61$177,000$5,7483.25%
Long Grove79$577,500$18,4703.20%
Lincolnshire67$440,000$13,5273.07%
Buffalo Grove240$340,000$10,1162.98%
Round Lake Beach213$138,000$4,0732.95%
Tower Lakes9$362,500$10,6102.93%
Antioch203$220,000$6,3292.88%
Gurnee254$234,450$6,7122.86%
Wauconda92$220,000$6,2462.84%
Waukegan323$127,900$3,5962.81%
Cary5$246,500$6,7432.74%
Gages Lake84$191,000$5,1972.72%
Round Lake Park27$121,000$3,2832.71%
Horatio Gardens9$280,000$7,5552.70%
North Barrington19$525,000$14,1472.69%
Fox Lake72$166,750$4,4932.69%
Highland Park204$476,250$12,8062.69%
Long Lake25$111,500$2,9902.68%
Lotus Woods7$108,500$2,8982.67%
Deerfield205$440,000$11,7412.67%
Kildeer30$577,450$15,3942.67%
Lake Catherine14$155,250$4,0672.62%
Grandwood Park60$255,000$6,6382.60%
Channel Lake9$150,305$3,9042.60%
Bannockburn7$900,000$23,2172.58%
Riverwoods18$612,500$15,7302.57%
Vernon Hills220$325,000$8,2472.54%
Hawthorn Woods76$480,274$12,0522.51%
Park City6$147,500$3,6512.48%
Libertyville215$388,000$9,5862.47%
Island Lake23$194,000$4,7722.46%
Wadsworth26$362,500$8,7522.41%
Lake Barrington92$298,000$7,1822.41%
Mundelein85$185,000$4,4482.40%
Spring Grove8$125,000$3,0042.40%
Barrington63$412,500$9,8702.39%
Green Oaks23$547,500$12,6672.31%
Forest Lake13$245,000$5,6242.30%
Lake Zurich137$330,000$7,4122.25%
Venetian Village25$159,900$3,5892.24%
Deer Park27$500,000$11,1682.23%
Highwood15$312,000$6,9662.23%
Fox Lake Hills36$183,000$3,9942.18%
Ingleside Shore33$194,500$4,1052.11%
Barrington Hills5$937,500$19,7452.11%
Knollwood11$280,000$5,8302.08%
North Chicago58$105,500$2,1742.06%
Lake Bluff57$560,000$11,1972.00%
Lake Forest171$820,000$14,2441.74%
 

Lake County communities see increases in median home price

The following table ranks Lake County cities by their median sale price, which is calculated using prices of properties sold during the first six months of 2018.

CityJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
North Chicago59$65,00058$105,50062.31%
Grandwood Park47$180,00060$255,00041.67%
Wadsworth29$270,00026$362,50034.26%
Lakemoor26$144,95014$190,50031.42%
Channel Lake20$115,4509$150,30530.19%
Bannockburn3$725,0007$900,00024.14%
Ingleside Shore38$159,00033$194,50022.33%
Zion167$96,000182$116,60321.46%
Round Lake Park34$100,51527$121,00020.38%
Horatio Gardens8$234,5009$280,00019.40%
Venetian Village26$137,45025$159,90016.33%
Antioch148$190,500203$220,00015.49%
Winthrop Harbor58$155,50061$177,00013.83%
Lotus Woods5$96,0007$108,50013.02%
Round Lake Beach205$123,000213$138,00012.20%
Barrington Hills7$837,5005$937,50011.94%
Park City4$133,0006$147,50010.90%
Third Lake14$255,45010$281,75010.30%
Round Lake128$179,350122$197,0009.84%
Vernon Hills280$296,000220$325,0009.80%
Lake Catherine14$141,50014$155,2509.72%
Volo23$224,67014$245,5009.27%
Lake Bluff78$513,00057$560,0009.16%
Deer Park33$460,00027$500,0008.70%
Lincolnshire85$405,00067$440,0008.64%
Fox Lake Hills32$171,45036$183,0006.74%
Waukegan362$120,000323$127,9006.58%
Gurnee286$221,500254$234,4505.85%
Wauconda96$208,00092$220,0005.77%
Buffalo Grove246$321,959240$340,0005.60%
Spring Grove8$118,7508$125,0005.26%
Libertyville228$369,000215$388,0005.15%
Island Lake28$186,25023$194,0004.16%
Lake Zurich146$320,000137$330,0003.13%
Kildeer39$560,00030$577,4503.12%
Lindenhurst140$197,500152$201,0001.77%
Grayslake220$209,000220$209,5000.24%
Green Oaks27$550,00023$547,500-0.45%
Barrington63$415,00063$412,500-0.60%
Deerfield173$445,000205$440,000-1.12%
Lake Forest132$829,825171$820,000-1.18%
Mundelein98$187,75085$185,000-1.46%
Long Grove67$590,00079$577,500-2.12%
Highland Park235$488,000204$476,250-2.41%
Beach Park101$160,00074$155,843-2.60%
Hainesville36$144,97550$140,295-3.23%
Fox Lake76$172,50072$166,750-3.33%
Hawthorn Woods86$499,67876$480,274-3.88%
Riverwoods35$637,50018$612,500-3.92%
North Barrington35$550,00019$525,000-4.55%
Lake Villa98$232,50090$221,750-4.62%
Gages Lake84$203,50084$191,000-6.14%
Knollwood10$315,00011$280,000-11.11%
Round Lake Heights22$179,95013$157,000-12.75%
Lake Barrington76$345,00092$298,000-13.62%
Forest Lake16$284,50013$245,000-13.88%
Tower Lakes9$427,0009$362,500-15.11%
Long Lake33$147,00025$111,500-24.15%
Highwood10$424,00015$312,000-26.42%
Cary6$374,7505$246,500-34.22%
Source: Blockshopper.com

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