Barrington, Lake County, Illinois Property Taxes

Name: Property Tax Bills Across Barrington, Lake County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Barrington, IL effective property tax rate: 2.37%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Barrington, IL home value: $475,180
Median annual Barrington, IL tax bill: $11,178, $8,778 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

Property taxes in Barrington, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Barrington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Barrington, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Barrington, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.37%

Estimate Property Tax Bill

$11,262

$10,451

Ownwell’s Barrington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Barrington with just two data points. By entering your property's estimated assessed value, our calculator applies Barrington’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lake County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Barrington, Lake County, Illinois

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell. In Barrington, located in Lake County, Illinois, the effective property tax rate is a significant point of comparison. The median property tax rate in Illinois is notably higher than the national median of 1.02%. This discrepancy can impact homeowners' financial planning and decisions regarding property investment. Understanding the local tax landscape is essential for property owners who wish to manage their expenses effectively. Comparing Barrington’s effective property tax rate to other cities in Illinois and the U.S. median provides valuable insights into the region’s tax burden. Homeowners in Barrington should be aware of how these rates influence their annual property tax bills, which are crucial for budgeting and long-term financial planning.

Property Tax Rates Across Barrington, Lake County, Illinois

Source: Ownwell

1.94%

2.99%

4.03%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Barrington Tax Rate

2.37%

Median Effective Lake County Tax Rate

2.94%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60010	2.14%	2.24%	2.37%	2.46%	2.55%

Source: Ownwell

Property Tax Assessment Values Across Barrington, Lake County, Illinois

When examining property taxes in Barrington, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lake County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Lake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Barrington. For example, the median home price in Barrington is $475,180, with tax bills ranging significantly across the county. 60010 has the highest median home price at $475,180.

Property Tax Assessment Values Across Barrington, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Barrington Market Value

$475,180

Median Lake County Market Value

$260,862

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60010	$247,029	$360,790	$475,180	$607,699	$757,542

Source: Ownwell

Property Tax Bills Across Barrington, Lake County, Illinois

In Barrington, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Homeowners in Barrington face one of the highest property tax bills in the nation, with the median tax bill reaching $11,178, significantly higher than the national median of $2,400. Factors influencing the tax bill include the property's location, improvements, and market conditions. This high tax burden can impact homeowners' finances, making it essential to explore potential savings.

Ownwell can assist homeowners in Barrington by providing expert property tax appeal services. By analyzing property assessments and market data, Ownwell identifies opportunities for reducing the assessed value, potentially lowering the tax bill. Homeowners can benefit from Ownwell's experience and insights to ensure they are not overpaying on their property taxes, ultimately leading to substantial savings.

Property Tax Bills Across Barrington, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Barrington Tax Bill

$11,178

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60010	$5,464	$8,293	$11,178	$14,353	$17,911

Source: Ownwell