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Updated 2025 Tax Year

Lake County
Property Tax Guide

Everything you need to know about property taxes in Lake County, IL. Rates, due dates, exemptions, and how it affects your monthly payment.

8 Official Sources
8 min read
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Quick Facts
Tax Rate
2.0% to 3.5% of assessed value
1st Due
Jun 1
2nd Due
Sep 1
Exemptions
5+ Available
Section 1

How Property Tax Works

Lake County, Illinois operates under a property tax system that serves as the primary funding mechanism for local government services, including schools, municipalities, townships, and special districts. Property taxes in Lake County fund essential services such as public education, fire protection, police services, libraries, parks, and infrastructure maintenance. The county follows Illinois state assessment practices with properties assessed at 33.33% of fair market value for residential properties.

The effective property tax rates in Lake County typically range from approximately 2.0% to 3.5% of assessed value, depending on the specific taxing districts where a property is located. Lake County is subject to the Property Tax Extension Limitation Law (PTELL), which limits the annual increase in property tax extensions. Homeowners can benefit from the standard homeowner exemption that reduces the Equalized Assessed Value (EAV) by up to $10,000, providing meaningful tax relief for primary residences.

Section 2

What Makes Up Your Tax Bill

ComponentTypical Rate RangeDescription
School Districts1.2% - 2.0%Elementary, high school, and community college districts
Municipality0.3% - 0.8%City or village services, infrastructure, public safety
County0.2% - 0.4%County government operations and services
Township0.1% - 0.3%Township road maintenance and general assistance
Park District0.1% - 0.4%Local parks, recreation facilities, and programs
Library District0.1% - 0.3%Public library operations and services
Fire Protection0.2% - 0.5%Fire department services and equipment
Special Districts0.1% - 0.3%Water reclamation, mosquito abatement, other services
Total Effective Rate2.3% - 3.0%Combined rate varies by location within Lake County
Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Lake County, property taxes are due in two installments:

First Installment
Jun 1
Delinquent after Dec 10
Second Installment
Sep 1
Delinquent after Apr 10
Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental property taxes in Lake County are triggered by specific events that change a property's assessed value or ownership status during the tax year. The primary triggers include new construction completion, property improvements that increase value, ownership changes through sale or transfer, and subdivision of existing parcels. These supplemental assessments ensure that property taxes reflect current property values and ownership throughout the tax year rather than waiting for the next regular assessment cycle.

Supplemental taxes are calculated by determining the difference between the original assessment and the new assessment, then applying the current tax rate to that difference. The tax is prorated based on the number of months remaining in the tax year from the date of the triggering event. For example, if a property improvement worth $50,000 is completed in July, and the effective tax rate is 2.5%, the supplemental tax would be calculated as: ($50,000 × 33.33% assessment ratio × 2.5% tax rate × 6/12 months) = approximately $208 for the remaining six months of the tax year.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (33.33%): $100,000
  • Less Homeowner Exemption: -$10,000
  • Net Taxable Value: $90,000
  • Annual Tax (2.5% rate): $2,250
  • Monthly Escrow: $188

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (33.33%): $200,000
  • Less Homeowner Exemption: -$10,000
  • Net Taxable Value: $190,000
  • Annual Tax (2.7% rate): $5,130
  • Monthly Escrow: $428

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (33.33%): $333,300
  • Less Homeowner Exemption: -$10,000
  • Net Taxable Value: $323,300
  • Annual Tax (2.8% rate): $9,052
  • Monthly Escrow: $754

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Section 5

Escrow & Property Taxes

Most Lake County homeowners with mortgages have their property taxes collected through escrow accounts managed by their lenders. Mortgage companies typically collect 1/12th of the estimated annual property tax bill with each monthly payment, holding these funds in escrow until tax payments are due. Lake County property taxes are generally due in two installments, with due dates typically falling around June 1st and September 1st, though exact dates may vary each year.

Lenders are responsible for making timely payments from escrow accounts to avoid penalties and interest charges. Homeowners should verify that their mortgage company has received tax bills and made payments correctly by checking payment status online. It's important to review annual escrow statements and monitor any changes in tax assessments that might require escrow payment adjustments. For questions about tax payments or to verify payment status, visit the Lake County Treasurer's office online at https://www.lakecountyil.gov/159/Treasurer.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
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Section 6

Frequently Asked Questions

Q: When are Lake County property taxes due? A: Property taxes are typically due in two installments around June 1st and September 1st each year, though exact dates may vary.

Q: How do I apply for the homeowner exemption? A: Contact the Chief County Assessment Office at https://www.lakecountyil.gov/159/Chief-County-Assessment-Office to apply for the homeowner exemption which can reduce your EAV by up to $10,000.

Q: What happens if I pay my property taxes late? A: Late payments incur interest charges and penalties. Interest begins accruing on the day after the due date.

Q: How often are properties reassessed in Lake County? A: Lake County follows a triennial reassessment cycle, meaning properties are reassessed every three years.

Q: Can I appeal my property assessment? A: Yes, property owners can appeal assessments through the Board of Review process. Contact the Chief County Assessment Office for appeal procedures and deadlines.

Q: How do I pay property taxes online? A: Online payments can be made through the Lake County Treasurer's website at https://www.lakecountyil.gov/159/Treasurer.

Q: What exemptions are available besides the homeowner exemption? A: Lake County offers various exemptions including senior citizen exemptions, disabled veteran exemptions, and senior citizen assessment freeze exemptions.

Q: How do I find my Property Index Number (PIN)? A: Your PIN can be found on your tax bill or by searching the assessor's property database on the Chief County Assessment Office website.

Q: What is PTELL and how does it affect my taxes? A: The Property Tax Extension Limitation Law limits annual increases in property tax extensions, providing some protection against dramatic tax increases.

Q: How do I get a copy of my property tax bill? A: Property tax bills and payment history can be accessed online through the Lake County Treasurer's website or by contacting the Treasurer's office directly.

Verified Sources

Backed by 8 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
County
Lake County Assessorlakecountyil.gov
02
County
Lake County Assessorlakecountyil.gov
03
County
Values Current - Lake County, IL Property Tax Informationtax.lakecountyil.gov
04
County
Lake County, IL Property Tax Informationtax.lakecountyil.gov
05
County
Lake County, IL Property Tax Informationtax.lakecountyil.gov
06
RESIDENTIALtax.lakecountyil.gov
07
RESIDENTIALtax.lakecountyil.gov
08
Standard Property Record Cardtax.lakecountyil.gov
All sources verified as of 2025 Tax Year

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