Deer Park, Lake County, Illinois Property Taxes

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

Median Deer Park, IL effective property tax rate: 2.25%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Deer Park, IL home value: $539,577
Median annual Deer Park, IL tax bill: $12,210, $9,810 higher than the national median property tax bill of $2,400.

How are property taxes in Lake calculated?

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

Last Updated March 1, 2025

Deer Park, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.25%

Estimate Property Tax Bill

$12,140

$11,266

Ownwell’s Deer Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Deer Park with just two data points. By entering your property's estimated assessed value, our calculator applies Deer Park’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 Deer Park, Lake County, Illinois

Local government entities in Illinois set tax rates, which can vary widely within the state. This variability is because each county annually estimates its required budget to provide essential services and 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 Deer Park, located in Lake County, the effective property tax rate stands at 2.25%, which is significantly higher than the national median of 1.02%. This places a considerable financial burden on property owners compared to other regions in the United States. When comparing Deer Park’s property tax rate to other cities within Illinois, it is evident that this rate is consistent across the zip code 60010, reflecting the highest and lowest median tax rates in the area. Understanding these rates is crucial for property owners looking to manage their property tax liabilities effectively.

Property Tax Rates Across Deer Park, 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 Deer Park Tax Rate

2.25%

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 Deer Park, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60010	2.11%	2.16%	2.25%	2.33%	2.35%

Source: Ownwell

Property Tax Assessment Values Across Deer Park, Lake County, Illinois

When examining property taxes in Deer 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 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.

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 Deer Park.

For example, the median home price in Deer Park is $539,577, with tax bills ranging significantly across the county. Zip code 60010 has the highest median home price at $539,577.

Property Tax Assessment Values Across Deer Park, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Deer Park Market Value

$539,577

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 Deer Park, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60010	$389,161	$460,699	$539,577	$619,028	$718,939

Source: Ownwell

Property Tax Bills Across Deer Park, Lake County, Illinois

In Deer Park, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the Lake County assessor. This assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate, affecting the final bill for homeowners. The median home price in Deer Park is $539,577, leading to a median tax bill significantly higher than the national average of $2,400. In fact, Deer Park's median tax bill falls between the 25th percentile at $10,187 and the 75th percentile at $13,866. Ownwell can assist homeowners in Deer Park by identifying potential savings through property tax appeals and exemptions. By leveraging local expertise and a deep understanding of property tax laws, Ownwell helps homeowners reduce their tax liabilities, ensuring they only pay their fair share.

Property Tax Bills Across Deer Park, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Deer Park Tax Bill

$12,210

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Deer Park, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60010	$8,691	$10,187	$12,210	$13,866	$16,089

Source: Ownwell