North Barrington, Lake County, Illinois Property Taxes

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

Median North Barrington, IL effective property tax rate: 2.33%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median North Barrington, IL home value: $599,673
Median annual North Barrington, IL tax bill: $14,839, $12,439 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

North Barrington, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.33%

Estimate Property Tax Bill

$13,972

$12,966

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

Local government entities set tax rates, which can vary widely within a state. This is because annually, each county 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

North Barrington in Lake County, IL, has an effective property tax rate that stands out compared to other cities in Illinois. The median property tax rate in Illinois is significantly higher than the national median of 1.02%. This means residents in North Barrington may find themselves paying more in property taxes compared to many other parts of the country. However, this higher rate often correlates with the quality of services and infrastructure provided by local governments.

By understanding how property taxes are assessed and comparing them to state and national figures, homeowners can better navigate their financial responsibilities and potentially explore options for appealing their property taxes if they believe their property has been over-assessed.

Property Tax Rates Across North Barrington, 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 North Barrington Tax Rate

2.33%

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 North Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60010	2.21%	2.28%	2.33%	2.56%	2.70%

Source: Ownwell

Property Tax Assessment Values Across North Barrington, Lake County, Illinois

When examining property taxes in North Barrington, 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 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 North Barrington. For example, the median home price in North Barrington is $599,673, with tax bills ranging significantly across the county. Zip code 60010 has the highest median home price at $599,673.

Property Tax Assessment Values Across North Barrington, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median North Barrington Market Value

$599,673

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 North Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60010	$338,721	$458,312	$599,673	$787,630	$944,404

Source: Ownwell

Property Tax Bills Across North Barrington, Lake County, Illinois

In North Barrington, IL, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as location, property size, and local government budgets can influence the assessed value. With a median home price of $599,673, homeowners in North Barrington often face substantial tax bills. The median tax bill in Lake County is significantly higher than the national median, with homeowners in the 25th percentile paying around $10,403, and those in the 90th percentile facing bills as high as $23,594. Such high taxes can be a financial burden for homeowners.

Ownwell assists homeowners in North Barrington by providing property tax appeal and exemption services. By reviewing and challenging inaccurate assessments, Ownwell helps reduce tax liabilities, potentially saving homeowners thousands of dollars. This service ensures that residents pay only their fair share, easing the financial strain of high property taxes.

Property Tax Bills Across North Barrington, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median North Barrington Tax Bill

$14,839

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across North Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60010	$7,455	$10,403	$14,839	$19,655	$23,594

Source: Ownwell