North Chicago, Lake County, Illinois Property Taxes

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

Median North Chicago, IL effective property tax rate: 3.97%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median North Chicago, IL home value: $107,356
Median annual North Chicago, IL tax bill: $4,137, $1,737 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

North Chicago, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.97%

Estimate Property Tax Bill

$4,262

$3,955

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

By entering your property's estimated assessed value, our calculator applies North Chicago’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 Chicago, Lake County, Illinois

Local government entities in Illinois set property tax rates, resulting in significant variation across the state. Each year, Lake County, like others, determines its budget for essential services and divides this by the total assessed value of all taxable properties within its jurisdiction, thereby establishing the property tax rate. While the process involves votes and legislative guidelines, this is the fundamental method used annually. North Chicago in Lake County stands out with an effective property tax rate of 3.97%, which is notably higher than both the state and national medians. The median property tax rate in Illinois is significantly above the national median of 1.02%, highlighting the state's considerable property tax burden. The high rate in North Chicago suggests a substantial financial commitment to public services, but it also underscores the importance of exploring property tax appeals and exemptions to manage costs effectively. Comparing North Chicago's rate to other cities in Illinois and the national average reveals the unique tax landscape property owners face in this region.

Property Tax Rates Across North Chicago, 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 Chicago Tax Rate

3.97%

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 Chicago, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60064	2.76%	3.55%	3.97%	4.56%	4.71%
60044	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

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

When examining property taxes in North Chicago, 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 North Chicago. For example, the median home price in North Chicago is $107,356, with tax bills ranging significantly across the county. Zip code 60064 has the highest median home price at $107,374.

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

Source: Ownwell

$107,374

$523,101

$938,827

Median North Chicago Market Value

$107,356

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 Chicago, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60064	$69,949	$86,470	$107,374	$130,982	$159,961
60044	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across North Chicago, Lake County, Illinois

In North Chicago, Lake County, IL, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. With a median home price of $107,356, homeowners in North Chicago face a median property tax bill of $4,137, significantly higher than the national median of $2,400. Factors influencing this tax bill include changes in the local tax rate and variations in home values. These high taxes can place a substantial financial burden on homeowners, especially when compared to the national median property tax rate of 1.02%.

Ownwell offers a solution by providing professional property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners potentially lower their tax bills. This service not only alleviates financial pressure but also ensures homeowners are not overpaying on their property taxes. With expertise in navigating complex tax systems, Ownwell is a valuable ally for those looking to manage their property tax expenses effectively.

Property Tax Bills Across North Chicago, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median North Chicago Tax Bill

$4,137

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 Chicago, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60064	$1,807	$3,014	$4,137	$5,307	$6,590
60044	N/A	N/A	N/A	N/A	N/A

Source: Ownwell