Winthrop Harbor, Lake County, Illinois Property Taxes

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

Median Winthrop Harbor, IL effective property tax rate: 3.27%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Winthrop Harbor, IL home value: $198,606
Median annual Winthrop Harbor, IL tax bill: $6,144, $3,744 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

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

Last Updated March 1, 2025

Winthrop Harbor, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.27%

Estimate Property Tax Bill

$6,494

$6,027

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

Local government entities set tax rates, which can vary significantly within a state. This variation occurs because each county annually 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 votes and laws play a role in setting tax rates and budgets, this is the simplified annual process.

In Winthrop Harbor, located in Lake County, Illinois, the effective property tax rate stands out. With a median property tax rate of 3.27%, Winthrop Harbor is notable for having the highest median tax rate in the area, which is also the lowest. This is significantly higher than the national median property tax rate of 1.02%. Consequently, property owners in Winthrop Harbor are subject to higher property tax bills compared to the national median of $2,400. Understanding these rates can help property owners in Winthrop Harbor make informed decisions about property tax appeals and exemptions.

Property Tax Rates Across Winthrop Harbor, 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 Winthrop Harbor Tax Rate

3.27%

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 Winthrop Harbor, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60096	2.60%	3.07%	3.27%	3.41%	3.65%

Source: Ownwell

Property Tax Assessment Values Across Winthrop Harbor, Lake County, Illinois

When examining property taxes in Winthrop Harbor, 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 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 Winthrop Harbor. For example, the median home price in Winthrop Harbor is $198,606, with tax bills ranging significantly across the county. Zip code 60096 has the highest median home price at $198,606.

Property Tax Assessment Values Across Winthrop Harbor, Lake County, Illinois

Source: Ownwell

$107,374

$523,101

$938,827

Median Winthrop Harbor Market Value

$198,606

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 Winthrop Harbor, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60096	$119,422	$150,355	$198,606	$248,874	$285,144

Source: Ownwell

Property Tax Bills Across Winthrop Harbor, Lake County, Illinois

In Winthrop Harbor, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the final tax bill. In Lake County, homeowners face a significant property tax burden, with tax bills ranging from $4,493 at the 25th percentile to $9,540 at the 90th percentile. The median tax bill in the area is notably higher than the national median, reflecting the region's higher-than-average property tax rates. Homeowners in Winthrop Harbor can feel the financial strain due to these substantial tax bills, which are influenced by factors such as local government budgets and school district funding requirements. Ownwell offers a solution by assisting homeowners in appealing their property tax assessments, potentially leading to significant savings. By leveraging their expertise, Ownwell helps ensure that homeowners are not overpaying, providing relief and reducing the financial burden of property taxes.

Property Tax Bills Across Winthrop Harbor, Lake County, Illinois

Source: Ownwell

$3,893

$12,727

$21,560

Median Winthrop Harbor Tax Bill

$6,144

Median Lake County Tax Bill

$7,861

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Winthrop Harbor, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60096	$3,310	$4,493	$6,144	$8,011	$9,540

Source: Ownwell