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Lake County Gazette

Thursday, November 14, 2024

Lake County effective property tax rate in Q2 was higher than the national average

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Property owners in Lake County paid 2.6% of the value of their homes in property taxes in the second quarter of 2024, 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 second quarter of 2024 was $355,000, based on data from the 2,039 properties sold during that time. In 2024, the median tax bill for the county was $9,360, 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 Lindenhurst, Grayslake, and Lakemoor paid the highest rates.

The above article calculates the effective property tax rate for 2024 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 Lindenhurst with some other cities belonging to Lake County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2024.

CityQ2 2024 SalesQ2 2024 Median PriceMedian tax 2024Effective tax rate
Lindenhurst48$300,000$10,2803.4%
Grayslake102$303,500$10,1703.4%
Lakemoor12$235,000$7,7413.3%
Third Lake2$348,813$11,0073.2%
Wauconda26$264,000$8,4063.2%
Round Lake46$247,500$7,5623.1%
Zion69$220,000$6,5793%
Round Lake Park12$163,000$4,8293%
Hainesville16$254,950$7,6193%
Tower Lakes2$452,500$13,7473%
Volo2$404,500$11,7032.9%
Beach Park33$235,000$6,5592.8%
Gurnee93$315,000$8,8662.8%
Grandwood Park23$320,000$9,0512.8%
Buffalo Grove110$462,500$13,0912.8%
Antioch83$320,000$8,5872.7%
Green Oaks15$580,000$15,6912.7%
Channel Lake3$188,870$4,9962.6%
Winthrop Harbor25$265,000$7,0192.6%
Long Grove26$838,500$21,9442.6%
Vernon Hills97$415,000$10,7652.6%
Deerfield93$582,500$15,2942.6%
Lotus Woods2$159,000$3,9502.5%
North Chicago22$190,950$4,6902.5%
Island Lake14$272,500$6,8672.5%
Lake Barrington38$382,000$9,6432.5%
Libertyville105$494,500$12,3482.5%
Indian Creek4$482,000$12,2112.5%
Lake Catherine11$215,000$5,2232.4%
Wadsworth16$440,500$10,7782.4%
Riverwoods16$835,000$20,0132.4%
Waukegan150$213,000$4,9142.3%
Venetian Village11$211,000$4,9192.3%
Round Lake Heights6$213,450$4,9252.3%
Gages Lake39$305,000$7,0392.3%
Mundelein44$306,000$6,9342.3%
Lincolnshire44$717,500$16,6382.3%
Lake Villa33$370,000$8,1502.2%
Round Lake Beach88$232,000$5,1722.2%
Hawthorn Woods25$689,000$14,9282.2%
Lake Zurich66$441,250$9,6032.2%
Forest Lake6$340,950$7,3542.2%
Kildeer17$876,000$19,1972.2%
Bannockburn2$1,120,000$24,4732.2%
Highland Park102$757,500$16,4582.2%
Cary2$375,000$8,2372.2%
Deer Park9$650,000$13,8332.1%
Highwood8$433,750$9,0122.1%
Barrington24$643,500$12,7952%
Fox Lake Hills14$296,750$5,5261.9%
Long Lake10$225,000$4,3461.9%
Fox River Grove3$765,000$14,8281.9%
Fox Lake19$330,000$5,9721.8%
Ingleside Shore17$305,000$5,4891.8%
Lake Bluff28$835,000$14,0591.7%
North Barrington19$1,100,000$17,0881.6%
Knollwood5$510,000$7,5471.5%
Lake Forest62$1,198,000$17,8311.5%

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