Lake Villa, Lake County, Illinois Property Taxes
Property Taxes in Lake Villa, Illinois
Median Lake Villa, Illinois effective property tax rate: 2.69%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Lake Villa, Illinois home value: $286,955
Median annual Lake Villa, Illinois tax bill: $7,431, $5,031 higher than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in Lake Villa, Illinois 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 Lake Villa's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Villa, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Lake Villa, Lake County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.69%
Estimate Property Tax Bill
$7,719
$7,163
How Does the Lake Villa Property Tax Calculator Work?
Use this Lake Villa property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lake Villa's median effective tax rate of 2.69% — based on actual property records in Lake County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lake Villa's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lake Villa: rates range from 2.69% in 60046 to 2.69% in 60046, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lake Villa.
About Lake Villa Property Taxes
About Property Taxes in Lake Villa, Lake, Illinois
Lake Villa’s median effective property tax rate of 2.69% is higher than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Lake County levy combined with local school district levies and other local charges that shape property taxes across the area.
Property tax rates are not uniform across Lake Villa. Homeowners in ZIP code 60046 carry a median effective rate of 2.69%, and the same ZIP code also has the city’s median tax bill of $7,431 and median home price of $286,955. That means the local tax burden is well above the national median property tax bill of $2,400, and the 75th percentile tax bill reaches $10,458.
If your assessed value seems too high, you can file a formal appeal with the Lake County Tax Assessor before the June 1, 2026 deadline.
If your bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lake Villa, Lake County, Illinois
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Lake Villa's effective property tax rate to other cities in Illinois and the median property tax rates in Illinois and the U.S.
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 Villa Tax Rate
2.69%
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
2.61%
Median Effective Illinois Tax Rate
2.33%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Villa, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60046 | 2.10% | 2.42% | 2.69% | 2.90% | 3.06% |
Source: Ownwell
Property Tax Assessment Values Across Lake Villa, Lake County, Illinois
When examining property taxes in Lake Villa, Illinois, 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 assessment office 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 the month when notices are sent.
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 Lake Villa.
For example, the median home price in Lake Villa is $286,955, with tax bills ranging significantly across the county. 60046 has the highest median home price at $286,955.
Property Tax Assessment Values Across Lake Villa, Lake County, Illinois
Source: Ownwell
$153,792
$627,201
$1,100,609
Median Lake Villa Market Value
$286,955
Median Lake County Market Value
$317,980
Median Illinois Market Value
$227,888
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Villa, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60046 | $158,519 | $211,538 | $286,955 | $371,583 | $455,119 |
Source: Ownwell
Property Tax Bills Across Lake Villa, Lake County, Illinois
Property tax bills in Lake Villa are based on the assessed value of a home, not its market price. Local taxing authorities set tax rates, and the bill is calculated by applying those rates to the assessed value after any exemptions or adjustments. Factors such as school districts, municipal services, and other local levies can all affect the final amount homeowners owe.
For Lake Villa homeowners, this means the tax bill can vary even among homes with similar market values if their assessed values or local tax rates differ. The median property tax bill in the area is $7,431, which is well above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%. With a median home price of $286,955, property taxes can represent a significant ongoing cost, making it important for homeowners to understand how their bill is determined.
Median Lake Villa Tax Bill
$7,431
Median Lake County Tax Bill
$8,402
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Villa, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60046 | $3,400 | $4,968 | $7,431 | $10,458 | $12,732 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Lake Tax Assessor | |
| Website | tax.lakecountyil.gov |