Wauconda, Lake County, Illinois Property Taxes
Median Wauconda, IL effective property tax rate: 3.25%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Wauconda, IL home value: $232,484
Median annual Wauconda, IL tax bill: $7,406, $5,006 higher than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in Wauconda, 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 Wauconda’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wauconda, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wauconda, Lake County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.25%
Estimate Property Tax Bill
$7,556
$7,012
Property Tax Rates Across Wauconda, Lake County, Illinois
Local government entities set tax rates, which can vary widely within a state. This variation is due to the fact that each county annually estimates the budget needed to provide services and then divides that amount by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Wauconda, located in Lake County, IL, the effective property tax rate stands at 3.25%. This rate is notably higher than the national median property tax rate of 1.02%. The property tax bill in Wauconda reflects this higher rate, often surpassing the national median property tax bill of $2400. This makes Wauconda one of the areas with the highest property tax rates in Illinois. Such a high rate can significantly impact homeowners' financial planning, making it crucial for residents to explore potential property tax appeals or exemptions.
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 Wauconda Tax Rate
3.25%
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 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 Wauconda, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60084 | 2.61% | 2.96% | 3.25% | 3.45% | 3.64% |
Source: Ownwell
Property Tax Assessment Values Across Wauconda, Lake County, Illinois
When examining property taxes in Wauconda, 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.
Assessment notices: 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 Wauconda.
For example, the median home price in Wauconda is $232,484, with tax bills ranging significantly across the county. Zip code 60084 has the highest median home price at $232,484.
Property Tax Assessment Values Across Wauconda, Lake County, Illinois
Source: Ownwell
$107,374
$523,101
$938,827
Median Wauconda Market Value
$232,484
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 Wauconda, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60084 | $131,488 | $173,926 | $232,484 | $324,727 | $379,329 |
Source: Ownwell
Property Tax Bills Across Wauconda, Lake County, Illinois
In Wauconda, located in Lake County, IL, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value, resulting in the property tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. Homeowners in Wauconda face a median property tax bill of $7,406, significantly higher than the national median of $2,400, making it crucial for homeowners to understand their tax assessments.
High property taxes can be a burden, but Ownwell offers a solution. By providing expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Our team analyzes your property's assessment and identifies opportunities for savings, ensuring you only pay your fair share. With Ownwell's assistance, Wauconda homeowners can navigate the complexities of property taxes and achieve substantial savings on their annual tax bills.
Median Wauconda Tax Bill
$7,406
Median Lake County Tax Bill
$7,861
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Wauconda, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60084 | $3,667 | $5,312 | $7,406 | $10,522 | $12,503 |
Source: Ownwell