Beach Park, Lake County, Illinois Property Taxes
Median BEACH PARK, IL effective property tax rate: 3.12%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median BEACH PARK, IL home value: $195,731
Median annual BEACH PARK, IL tax bill: $5,855, $3,455 higher than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in BEACH PARK, 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 BEACH PARK’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in BEACH PARK, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Beach Park, Lake County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.12%
Estimate Property Tax Bill
$6,107
$5,667
Property Tax Rates Across Beach Park, Lake County, Illinois
Local government entities determine tax rates, leading to significant variation within a state. This happens because each county annually estimates its required budget to provide services and then divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Beach Park, located in Lake County, Illinois, the effective property tax rate is notably high compared to both state and national medians. The median property tax rate in Illinois is 3.12%, significantly above the national median of 1.02%. Within Lake County, the highest median tax rate is 3.23% in the 60099 ZIP code, while the lowest is 2.67% in the 60087 ZIP code.
These figures highlight the substantial variability in property tax rates even within a single county. Understanding these differences is crucial for property owners, as it directly impacts their annual tax bills. By appealing or seeking exemptions, property owners in Beach Park can potentially reduce their tax burden, making it essential to stay informed about local tax trends.
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 Beach Park Tax Rate
3.12%
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 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 Beach Park, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60083 | 2.54% | 3.05% | 3.15% | 3.32% | 3.59% |
| 60087 | 2.12% | 2.37% | 2.67% | 3.23% | 3.42% |
| 60099 | 2.61% | 3.01% | 3.23% | 3.35% | 3.60% |
Source: Ownwell
Property Tax Assessment Values Across Beach Park, Lake County, Illinois
When examining property taxes in Beach Park, 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 Assessor's Office 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.
In Lake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Beach Park.
For example, the median home price in Beach Park is $195,731, with tax bills ranging significantly across the county. Zip code 60083 has the highest median home price at $216,883.
Property Tax Assessment Values Across Beach Park, Lake County, Illinois
Source: Ownwell
$107,374
$523,101
$938,827
Median Beach Park Market Value
$195,731
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 Beach Park, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60083 | $149,904 | $152,133 | $216,883 | $271,899 | $307,823 |
| 60087 | $119,008 | $152,712 | $190,558 | $232,482 | $276,239 |
| 60099 | $131,670 | $165,862 | $198,462 | $232,587 | $269,344 |
Source: Ownwell
Property Tax Bills Across Beach Park, Lake County, Illinois
Median Beach Park Tax Bill
$5,855
Median Lake County Tax Bill
$7,861
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Beach Park, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60083 | $3,967 | $4,784 | $6,596 | $8,537 | $9,595 |
| 60087 | $2,704 | $3,752 | $5,184 | $6,621 | $8,284 |
| 60099 | $3,489 | $4,951 | $6,210 | $7,528 | $8,883 |
Source: Ownwell