Lake County, Illinois property tax
The median homeowner in Lake County, Illinois pays $8,743 a year in property tax on a home worth $326,600, an effective rate of 2.68%. The national effective rate is 0.98%.
What the rate means here
At 2.68%, Lake County taxes property more heavily than the country as a whole, which sits at 0.98%. Unusually, the housing is not cheap either. A rate above the national average on a home worth $326,600 produces a bill of $8,743, and both halves of that are working against the owner.
Inside Illinois it is one of the most heavily taxed counties there is, ranking #1 of 97, against a statewide 2.07%. At the other end of the same state, Pulaski County charges 0.82%. A spread that wide inside one state is normal, because school districts, not states, set most of the levy.
The median home costs 3 times the median household income of $108,917, against 3.86 nationally, which is a comfortable ratio by American standards. 74.4% of occupied homes are owned rather than rented, and cheap housing relative to income is usually why. At 711,885 residents the county is large enough that its median blends several distinct housing markets.
The rate is derived rather than quoted. How and why.
What that costs at different home values
Arithmetic at the county effective rate, before any exemption or assessment cap.
Housing and income
| Lake County | Illinois | United States | |
|---|---|---|---|
| Effective property tax | 2.68% | 2.07% | 0.98% |
| Median tax bill | $8,743 | $5,189 | $2,969 |
| Median home value | $326,600 | $250,500 | $303,400 |
| Median gross rent | $1,434 | $1,227 | $1,348 |
| Median household income | $108,917 | $81,702 | $78,538 |
| Home price to income | 3× | 3.07× | 3.86× |
| Rent as share of income | 15.8% | 18.02% | 20.6% |
| Owner-occupied | 74.4% | 66.84% | 65.02% |
Source: U.S. Census Bureau, American Community Survey 2023 five-year estimates. Population 711,885.
Nearby counties of similar size
| County | Rate | Median bill | Home value |
|---|---|---|---|
| Will County | 2.35% | $6,993 | $298,000 |
| Kane County | 2.39% | $7,230 | $303,000 |
| DuPage County | 2.09% | $7,833 | $374,100 |
| McHenry County | 2.49% | $7,153 | $286,900 |
| Winnebago County | 2.48% | $3,850 | $155,100 |
Lake County property tax: common questions
What is the property tax rate in Lake County, Illinois?
The effective rate is 2.68% of home value, from a median tax bill of $8,743 against a median home value of $326,600. That is 1.7 points above the national 0.98%.
How much is property tax on a $400,000 home in Lake County?
Roughly $10,720 a year at the county effective rate of 2.68%.
Is Lake County expensive compared with the rest of Illinois?
It ranks #1 of 97 Illinois counties by effective property tax rate, and #8 of 2,826 nationally. That is 0.61 points above the Illinois average of 2.07%.
What does housing cost in Lake County?
The median home is worth $326,600 and median gross rent is $1,434 a month. Median household income is $108,917, which puts the home at 3 times annual income and rent at 15.8% of it.