Long Grove, Lake County, Illinois Property Taxes

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

Median Long Grove, IL effective property tax rate: 3.09%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Long Grove, IL home value: $628,165
Median annual Long Grove, IL tax bill: $19,376, $16,976 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Long Grove, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.09%

Estimate Property Tax Bill

$19,410

$18,012

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

Local government entities set tax rates, which can vary widely within a state. This variation arises 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. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell. Long Grove in Lake County, IL, has an effective property tax rate of 3.09%, which is notably higher than the national median property tax rate of 1.02%. Within Illinois, tax rates can vary significantly. For instance, the highest median tax rate in the state is 3.24% in the 60060 zip code, while the lowest median tax rate is 3.08% in the 60047 zip code. This showcases the range of property tax rates homeowners might encounter even within a single state. Understanding these variations can help homeowners better anticipate their tax responsibilities and explore potential savings through appeals or exemptions.

Property Tax Rates Across Long 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 Long Grove Tax Rate

3.09%

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 Long Grove, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60047	2.92%	3.01%	3.08%	3.15%	3.19%
60060	3.14%	3.22%	3.24%	3.26%	3.27%

Source: Ownwell

Property Tax Assessment Values Across Long Grove, Lake County, Illinois

When examining property taxes in Long Grove, Illinois, 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. Lake County 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 May. 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 Long Grove.

For example, the median home price in Long Grove is $628,165, with tax bills ranging significantly across the county. Zip code 60060 has the highest median home price at $637,303.

Property Tax Assessment Values Across Long Grove, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Long Grove Market Value

$628,165

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 Long Grove, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60047	$456,705	$529,925	$627,666	$759,259	$922,073
60060	$539,292	$589,691	$637,303	$715,380	$767,686

Source: Ownwell

Property Tax Bills Across Long Grove, Lake County, Illinois

In Long Grove, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as local government budgets, school district funding, and public services influence the tax rate, affecting the final tax bill. Homeowners in Long Grove face substantial property tax bills, with the median tax bill being significantly higher than the national median of $2,400. Tax bills in Long Grove range from the 25th percentile at $16,102 to the 90th percentile at $28,466, with some areas in Lake County reaching a median as high as $20,653. Ownwell can assist homeowners by analyzing their property tax assessments and identifying discrepancies or opportunities for appeals. By leveraging expert knowledge and data-driven insights, Ownwell helps homeowners potentially reduce their tax liabilities, ensuring they are not overpaying and can save money on their property tax bills.

Property Tax Bills Across Long Grove, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Long Grove Tax Bill

$19,376

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Long Grove, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60047	$13,632	$16,013	$19,278	$23,589	$28,681
60060	$17,249	$18,800	$20,653	$22,889	$24,817

Source: Ownwell