Zion, Lake County, Illinois Property Taxes
Median ZION, IL effective property tax rate: 4.03%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median ZION, IL home value: $142,491
Median annual ZION, IL tax bill: $5,703, $3,303 higher than the national median property tax bill of $2,400.
How are property taxes in Lake calculated?
Property taxes in ZION, 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 ZION’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in ZION, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Zion, Lake County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
4.03%
Estimate Property Tax Bill
$5,742
$5,329
Property Tax Rates Across Zion, Lake County, Illinois
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties such as Lake County in Illinois calculate their required budget to provide essential services and divide this figure by the total assessed value of all taxable properties within their jurisdiction. This calculation determines the property tax rate. Although votes and legislation play a role in establishing tax rates and budgets, this is essentially the annual process.
In Zion, located in Lake County, the effective property tax rate is notably higher compared to the national median property tax rate of 1.02%. This highlights the variation in tax rates not only across the state of Illinois but also when compared to national figures. Homeowners in Zion should be aware of these differences, as they can significantly impact annual property tax bills. By understanding how these rates are set and comparing them to other regions, property owners can make informed decisions about their investments and potential tax savings opportunities.
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 Zion Tax Rate
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 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 Zion, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60099 | 2.92% | 3.73% | 4.03% | 4.46% | 4.76% |
Source: Ownwell
Property Tax Assessment Values Across Zion, Lake County, Illinois
When examining property taxes in Zion, 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 Zion.
For example, the median home price in Zion is $142,491, with tax bills ranging significantly across the county. Zip code 60099 has the highest median home price at $142,491.
Property Tax Assessment Values Across Zion, Lake County, Illinois
Source: Ownwell
$107,374
$523,101
$938,827
Median Zion Market Value
$142,491
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 Zion, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60099 | $93,219 | $113,434 | $142,491 | $190,444 | $227,912 |
Source: Ownwell
Property Tax Bills Across Zion, Lake County, Illinois
In Zion, located in Lake County, IL, property tax bills are determined 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 calculate the tax bill. Homeowners in Zion face a median property tax bill of $5,703, which is significantly higher than the national median of $2,400. This high tax bill can be attributed to the local tax rate and the assessed values of properties in the area. Homeowners can find their tax bills falling between $4,331 and $9,050, depending on various factors such as neighborhood and property characteristics.
For homeowners looking to reduce their property tax bills, Ownwell offers professional property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying on their taxes. This can lead to substantial savings, providing financial relief and enhancing property investment value. With Ownwell's expertise, homeowners in Zion can navigate the complexities of property taxes with confidence.
Median Zion Tax Bill
$5,703
Median Lake County Tax Bill
$7,861
Median Illinois Tax Bill
$4,715
Median United States Tax Bill
$2,400
Property Tax Bills Across Zion, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60099 | $2,974 | $4,331 | $5,703 | $7,463 | $9,050 |
Source: Ownwell