Lindenhurst, Illinois Property Taxes
The median property tax rate in Lindenhurst, IL is 3.57%, considerably higher than both the national median of 0.99% and the Illinois state median of 2.35%. With the median home value in Lindenhurst, the typical annual property tax bill reaches $8,145, exceeding the national median of $2,690. Property taxes in Lindenhurst are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lindenhurst's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lindenhurst or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lindenhurst, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.57%
Estimate Property Tax Bill
$8,134
$7,948
Ownwell’s Lindenhurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lindenhurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lindenhurst to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lindenhurst, Illinois
Property taxes in Lindenhurst, Illinois, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lindenhurst is 3.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lindenhurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lindenhurst estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lindenhurst's effective property tax rate to other areas in Illinois and the national median. For comparison, the 60046 zip code has the highest median property tax rate of 3.57%, while the same zip code also has the lowest median tax rate of 3.57%. Understanding how these rates compare with Lindenhurst provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lindenhurst Tax Rate
3.57%
Average Lake County Tax Rate
2.94%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lindenhurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60046 | 3.07% | 3.28% | 3.57% | 4.13% | 4.25% |
Source: Ownwell
Property Tax Assessment Values Across Lindenhurst, Illinois
In Lindenhurst, Illinois, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lake County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lindenhurst, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lindenhurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 60046 has the highest and lowest median tax bills, both at $8,145.
Average Lindenhurst Assessed Value
$227,843
Average Lake County Assessed Value
$260,862
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lindenhurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60046 | $156,156 | $193,676 | $227,843 | $286,030 | $349,062 |
Source: Ownwell
Property Tax Bills Across Lindenhurst, Illinois
In Lindenhurst, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. In Lake County, where Lindenhurst is located, the median home price is $227,843. The tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the local tax rate. Homeowners in Lindenhurst can expect a wide range of tax bills. For example, the tax bill at the 25th percentile is $6,478, while at the 75th percentile, it reaches $10,946. At the 90th percentile, it climbs to $13,372. These property taxes significantly impact homeowners, as they represent a substantial annual expense. Compared to the national median property tax rate of 0.99%, Lindenhurst's rates are notably higher, underscoring the importance of understanding and potentially appealing property tax assessments.
Average Lindenhurst Tax Bill
$8,145
Average Lake County Tax Bill
$7,861
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Lindenhurst, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60046 | $5,395 | $6,478 | $8,145 | $10,946 | $13,372 |
Source: Ownwell