Hawthorn Woods, Lake County, Illinois Property Taxes

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

Median HAWTHORN WOODS, IL effective property tax rate: 2.59%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median HAWTHORN WOODS, IL home value: $497,723
Median annual HAWTHORN WOODS, IL tax bill: $13,190, $10,790 higher than the national median property tax bill of $2,400.

How are property taxes in Lake calculated?

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

Last Updated March 1, 2025

Hawthorn Woods, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.59%

Estimate Property Tax Bill

$12,891

$11,963

Ownwell’s Hawthorn Woods Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hawthorn Woods with just two data points.

By entering your property's estimated assessed value, our calculator applies Hawthorn Woods’ 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 Hawthorn Woods, 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, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.

In Hawthorn Woods, located in Lake County, Illinois, the effective property tax rate is 2.59%. This rate is notably higher than the national median property tax rate of 1.02%. When compared to other cities within Illinois, Hawthorn Woods' tax rate aligns with the state's highest median tax rate of 2.64% found in zip code 60060, and it matches the lowest median tax rate of 2.59% in zip code 60047.

These figures highlight the significant variation in property tax rates within a state and emphasize the importance of understanding local tax obligations. By comparing Hawthorn Woods' effective property tax rate to state and national medians, property owners can better assess their tax responsibilities and explore potential savings through appeals or exemptions.

Property Tax Rates Across Hawthorn Woods, 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 Hawthorn Woods Tax Rate

2.59%

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 Hawthorn Woods, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60047	2.47%	2.54%	2.59%	2.80%	2.92%
60060	2.52%	2.56%	2.64%	2.71%	2.73%

Source: Ownwell

Property Tax Assessment Values Across Hawthorn Woods, Lake County, Illinois

When examining property taxes in Hawthorn Woods, 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 Hawthorn Woods.

For example, the median home price in Hawthorn Woods is $497,723, with tax bills ranging significantly across the county. Zip code 60047 has the highest median home price at $498,710.

Property Tax Assessment Values Across Hawthorn Woods, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Hawthorn Woods Market Value

$497,723

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 Hawthorn Woods, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60047	$368,633	$436,042	$498,710	$582,440	$677,196
60060	$309,658	$347,742	$374,806	$408,596	$433,989

Source: Ownwell

Property Tax Bills Across Hawthorn Woods, Lake County, Illinois

In Hawthorn Woods, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This value is a percentage of the market value of the property. The property tax rate is then applied to this assessed value to determine the tax bill. In Hawthorn Woods, the median home price is $497,723, and tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $11,244, while at the 75th percentile, it reaches $15,734. This is notably higher than the national median property tax bill of $2,400. High property taxes can place a financial burden on homeowners, but this is where Ownwell can assist. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially lower their assessed values and, consequently, their tax bills. This can result in significant savings, ensuring that homeowners in Hawthorn Woods are not overpaying on their property taxes.

Property Tax Bills Across Hawthorn Woods, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Hawthorn Woods Tax Bill

$13,190

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Hawthorn Woods, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60047	$9,202	$11,277	$13,218	$15,755	$18,857
60060	$8,234	$8,855	$9,722	$10,836	$12,098

Source: Ownwell