919 Chesapeake Blvd. is for sale for $247,000. It has a tax bill of $10,824. | zillow.com
919 Chesapeake Blvd. is for sale for $247,000. It has a tax bill of $10,824. | zillow.com
The average City of Chicago homeowner saw a $110 per year increase in their property tax bill last year, according to a report by Cook County Clerk David Orr.
But Chicago property tax bills are still a fraction of what they are in suburban Grayslake and Libertyville.
A comparison of effective property tax rates for the first six months of 2018 found that homeowners in Grayslake and Libertyville are still paying more than one-third more than they would be if their home were within Chicago's city limits.
State Rep. Sam Yingling (D-Grayslake)
On a home valued at $250,000, a residential property tax bill would be $9,999 in Grayslake and $5,225 in Libertyville, versus $3,875 in Chicago.
Chicago's effective property tax rate is lower than all 23 northwest suburban communities studied, less than half what it is in Barrington Hills and Bartlett.
$17 billion suburban bailout
The analysis comes amidst angst over Illinois property tax bills, which have risen to more than twice the national average over the past two decades, eroding the home equity of longtime suburban Lake County homeowners.
To blame: soaring local government spending, richer pensions, and higher City of Chicago spending, which has been subsidized by suburban taxpayers by way of Springfield.
Last summer, suburban legislators including State Rep. Sam Yingling (D-Grayslake) and Sen. Julie Morrison (D-Deerfield) helped pass a bailout of Chicago Public Schools (CPS), which were insolvent after blowing their budgets 15 years straight, according to a Chicago City Wire analysis.
The bailout requires suburban and downstate taxpayers to raise property taxes and pay higher income taxes to pay CPS' more than $17 billion debt.
It also diverts money to CPS from northwest suburban school districts, all of which stand to lose according to an analysis of the bill published by the Illinois State Board of Education.
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How do Lake County property taxes compare to Chicago?
The following table compares Lake County communities based on how much property owners would pay on a $250,000 home. Effective tax rates were calculated using 2018 median sale prices and 2017 median tax bills.
| City | Effective tax rate | Tax bill on $250,000 home |
| Zion | 4.28% | $10,692 |
| Volo | 4.01% | $10,035 |
| Hainesville | 4.01% | $10,029 |
| Grayslake | 4.00% | $9,999 |
| Lakemoor | 3.60% | $9,002 |
| Lake Villa | 3.59% | $8,979 |
| Lindenhurst | 3.57% | $8,918 |
| Beach Park | 3.44% | $8,611 |
| Third Lake | 3.42% | $8,548 |
| Round Lake | 3.41% | $8,519 |
| Round Lake Heights | 3.25% | $8,127 |
| Winthrop Harbor | 3.25% | $8,119 |
| Long Grove | 3.20% | $7,995 |
| Lincolnshire | 3.07% | $7,686 |
| Buffalo Grove | 2.98% | $7,439 |
| Round Lake Beach | 2.95% | $7,379 |
| Tower Lakes | 2.93% | $7,318 |
| Antioch | 2.88% | $7,192 |
| Gurnee | 2.86% | $7,157 |
| Wauconda | 2.84% | $7,098 |
| Waukegan | 2.81% | $7,029 |
| Cary | 2.74% | $6,838 |
| Gages Lake | 2.72% | $6,802 |
| Round Lake Park | 2.71% | $6,782 |
| Horatio Gardens | 2.70% | $6,745 |
| North Barrington | 2.69% | $6,737 |
| Fox Lake | 2.69% | $6,736 |
| Highland Park | 2.69% | $6,722 |
| Long Lake | 2.68% | $6,703 |
| Lotus Woods | 2.67% | $6,678 |
| Deerfield | 2.67% | $6,671 |
| Kildeer | 2.67% | $6,665 |
| Lake Catherine | 2.62% | $6,548 |
| Grandwood Park | 2.60% | $6,508 |
| Channel Lake | 2.60% | $6,494 |
| Bannockburn | 2.58% | $6,449 |
| Riverwoods | 2.57% | $6,421 |
| Vernon Hills | 2.54% | $6,343 |
| Hawthorn Woods | 2.51% | $6,273 |
| Park City | 2.48% | $6,188 |
| Libertyville | 2.47% | $6,176 |
| Island Lake | 2.46% | $6,149 |
| Wadsworth | 2.41% | $6,036 |
| Lake Barrington | 2.41% | $6,026 |
| Mundelein | 2.40% | $6,010 |
| Spring Grove | 2.40% | $6,007 |
| Barrington | 2.39% | $5,982 |
| Green Oaks | 2.31% | $5,784 |
| Forest Lake | 2.30% | $5,739 |
| Lake Zurich | 2.25% | $5,615 |
| Venetian Village | 2.24% | $5,612 |
| Deer Park | 2.23% | $5,584 |
| Highwood | 2.23% | $5,582 |
| Fox Lake Hills | 2.18% | $5,457 |
| Ingleside Shore | 2.11% | $5,276 |
| Barrington Hills | 2.11% | $5,265 |
| Knollwood | 2.08% | $5,205 |
| North Chicago | 2.06% | $5,152 |
| Lake Bluff | 2.00% | $4,999 |
| Lake Forest | 1.74% | $4,343 |
| Chicago | 1.55% | $3,875 |
Source: Blockshopper.com; Lake County Assessment Offices
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