Fox River Grove, Lake County, Illinois Property Taxes

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

Median FOX RIVER GROVE, IL effective property tax rate: 2.45%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median FOX RIVER GROVE, IL home value: $524,054
Median annual FOX RIVER GROVE, IL tax bill: $12,605, $10,205 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Fox River Grove, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.45%

Estimate Property Tax Bill

$12,839

$11,915

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

Local government entities determine tax rates, which can vary significantly within a state. This is because each county annually estimates its budgetary needs for services and divides that by the total value of all taxable property in its area, resulting in the property tax rate. This process involves votes and laws but essentially follows this annual cycle. In Fox River Grove, located in Lake County, IL, the effective property tax rate stands out when compared to other cities in the state and the national median. Fox River Grove's rate is significantly higher than the national median rate of 1.02%, reflecting the local government's budgetary needs and property values. This rate is consistent across the county, as evidenced by the uniformity in the highest and lowest median tax rates within the same zip code. Understanding these rates provides homeowners with valuable insight into their tax obligations and potential savings through appeals or exemptions.

Property Tax Rates Across Fox River Grove, 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 Fox River Grove Tax Rate

2.45%

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 Fox River Grove, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60021	2.38%	2.41%	2.45%	2.46%	2.46%

Source: Ownwell

Property Tax Assessment Values Across Fox River Grove, Lake County, Illinois

When examining property taxes in Fox River Grove, 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 Fox River Grove. For example, the median home price in Fox River Grove is $524,054, with tax bills ranging significantly across the county. Zip code 60021 has the highest median home price at $524,054.

Property Tax Assessment Values Across Fox River Grove, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Fox River Grove Market Value

$524,054

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 Fox River Grove, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60021	$373,258	$406,996	$524,054	$575,232	$624,462

Source: Ownwell

Property Tax Bills Across Fox River Grove, Lake County, Illinois

In Fox River Grove, IL, property tax bills are influenced by the assessed value of a home, which is determined by the local assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. In Lake County, the property tax rate is notably higher than the national median, leading to a median tax bill of $12,605, significantly surpassing the national median of $2,400. Factors such as location, property size, and improvements can also impact the assessed value, thereby affecting the tax bill. This can pose a financial burden on homeowners, especially when tax bills range from $9,903 at the 25th percentile to $14,994 at the 90th percentile. Ownwell offers a solution by providing expert property tax appeal services, helping homeowners identify potential savings. By analyzing property assessments and market conditions, Ownwell can assist in reducing the assessed value, potentially lowering the tax bill and alleviating some of the financial strain on homeowners.

Property Tax Bills Across Fox River Grove, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Fox River Grove Tax Bill

$12,605

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Fox River Grove, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60021	$9,093	$9,903	$12,605	$13,959	$14,994

Source: Ownwell