Port Barrington, Lake County, Illinois Property Taxes

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

Median Port Barrington, IL effective property tax rate: 2.61%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Port Barrington, IL home value: $323,117
Median annual Port Barrington, IL tax bill: $9,466, $7,066 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Port Barrington, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.61%

Estimate Property Tax Bill

$8,433

$7,826

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

Local government entities set tax rates, and these can vary significantly within a state. Every year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the essential annual process.

In Port Barrington, located in Lake County, Illinois, the effective property tax rate is 2.61%. This rate stands out when compared to the national median property tax rate of 1.02%. Residents of Port Barrington face a higher tax burden compared to the national average, which translates into a higher property tax bill. The median property tax bill in Port Barrington is more than double the national median of $2,400.

When comparing Port Barrington's property tax rate to other cities in Illinois, it is clear that the tax rate is consistent across the board. Understanding these rates and how they compare can help property owners make informed decisions about their investments and financial planning.

Property Tax Rates Across Port 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 Port Barrington Tax Rate

2.61%

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 Port Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60010	2.33%	2.41%	2.61%	2.94%	2.97%

Source: Ownwell

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

When examining property taxes in Port 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 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 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 Port Barrington.

For example, the median home price in Port Barrington is $323,117, with tax bills ranging significantly across the county. Zip code 60010 has the highest median home price at $323,117.

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

Source: Ownwell

$107,374

$523,101

$938,827

Median Port Barrington Market Value

$323,117

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 Port Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60010	$13,720	$14,185	$323,117	$408,836	$677,664

Source: Ownwell

Property Tax Bills Across Port Barrington, Lake County, Illinois

In Port Barrington, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to the assessed value to determine the annual tax bill. In Lake County, where Port Barrington is located, the property tax bills can vary significantly. For instance, the 25th percentile tax bill is $345, while the 75th percentile reaches $11,917. The highest median tax bill in the region is $9,466, notably higher than the national median property tax bill of $2,400. Such disparities can substantially impact homeowners, particularly those with homes assessed at higher values. Ownwell assists homeowners by providing property tax appeal services, potentially reducing their tax bills. By analyzing the assessed value and comparing it to similar properties, Ownwell helps identify discrepancies and file appeals, ensuring homeowners pay only their fair share. This service can lead to significant savings for homeowners facing high property tax bills.

Property Tax Bills Across Port Barrington, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Port Barrington Tax Bill

$9,466

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Port Barrington, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60010	$334	$345	$9,466	$11,917	$15,860

Source: Ownwell