Property Tax Analysis for Lake County, IL
Property tax rates, assessment ratios, and appeal potential in Lake County.
Effective Tax Rate
2.7%
Annual Tax Bill
$8,595
Monthly Escrow
$716
Tax Burden
8.2% of income
Tax Assessment Details
Current Assessment
Market Value$313,700
Est. Assessed Value$266,645
Assessment Ratio~85%
Effective Rate2.7%
Appeal Potential
Potential Annual Savings$1,289
5-Year Savings$6,445
vs National Averageabove (1.1%)
Appeal Success Rate~40-60%
About Property Taxes in Lake County
Lake County in Illinois has an effective property tax rate of 2.7%, which is above the national average of 1.1%. On a median home value of $313,700, that translates to $8,595 annually or $716 per month in escrow.
Property tax assessments can often be successfully appealed. Our calculator models assessment ratios, comparable sales analysis, and appeal timing to estimate your potential savings with Monte Carlo simulation.
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