Indian Creek, Lake County, Illinois Property Taxes

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

Median Indian Creek, IL effective property tax rate: 2.73%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Indian Creek, IL home value: $395,948
Median annual Indian Creek, IL tax bill: $10,541, $8,141 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Indian Creek, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.73%

Estimate Property Tax Bill

$10,809

$10,031

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

Local government entities determine tax rates, which can vary significantly within Illinois. This variation arises because each county annually assesses its budgetary needs for public services and divides this by the total assessed value of all taxable property within its boundaries, resulting in the property tax rate. Although the setting of tax rates and budgets involves votes and legislation, this is essentially the process each year.

In Indian Creek, located in Lake County, property owners face an effective property tax rate of 2.73%, which is notably higher than the national median rate of 1.02%. This rate is consistent across the region, making it both the highest and lowest median rate within the zip code 60061. When compared to the national median property tax bill of $2400, residents in this area may experience a higher financial obligation due to the elevated rate. Understanding these rates can help homeowners in Indian Creek better prepare for their annual property tax responsibilities and consider potential savings through tax appeal and exemption services.

Property Tax Rates Across Indian Creek, 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 Indian Creek Tax Rate

2.73%

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 Indian Creek, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60061	2.60%	2.64%	2.73%	2.75%	2.84%

Source: Ownwell

Property Tax Assessment Values Across Indian Creek, Lake County, Illinois

When examining property taxes in Indian Creek, 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 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 Indian Creek. For example, the median home price in Indian Creek is $395,948, with tax bills ranging significantly across the county. Zip code 60061 has the highest median home price at $395,948.

Property Tax Assessment Values Across Indian Creek, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Indian Creek Market Value

$395,948

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 Indian Creek, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60061	$318,713	$363,824	$395,948	$403,834	$416,495

Source: Ownwell

Property Tax Bills Across Indian Creek, Lake County, Illinois

In Indian Creek, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor’s office. This assessed value is a percentage of the property's market value. In Lake County, where Indian Creek is located, the median property tax bill is significantly higher than the national median of $2,400, with the 25th percentile at $9,735 and the 75th percentile reaching $11,051. The highest and lowest median tax bills in the area are both recorded at $10,541 within the same zip code, indicating a relatively uniform tax burden across the region. These high property tax bills can be a substantial financial burden for homeowners, often exceeding the national median property tax rate of 1.02%. Ownwell can assist homeowners in Indian Creek by identifying potential savings through property tax appeals and exemptions. By leveraging local expertise and a deep understanding of the tax code, Ownwell helps ensure homeowners pay only their fair share, potentially saving them thousands of dollars annually.

Property Tax Bills Across Indian Creek, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Indian Creek Tax Bill

$10,541

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Indian Creek, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60061	$8,610	$9,735	$10,541	$11,051	$11,395

Source: Ownwell