Lake Zurich, Lake County, Illinois Property Taxes
Property Taxes in Lake Zurich, Illinois
Median Lake Zurich, Illinois effective property tax rate: 2.26%, significantly lower than the national median of 1.02%, and lower than the Illinois state median of 2.33%.
Median Lake Zurich, Illinois home value: $383,429
Median annual Lake Zurich, Illinois tax bill: $8,667, $6,267 higher than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in Lake Zurich, 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 Zurich's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Zurich, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Lake Zurich, Lake County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.26%
Estimate Property Tax Bill
$8,665
$8,041
How Does the Lake Zurich Property Tax Calculator Work?
Use this Lake Zurich property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lake Zurich's median effective tax rate of 2.26% — based on actual property records in Lake County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessor 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 Zurich'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 Zurich: rates range from 2.26% in 60047 to 2.26% in 60047, primarily due to differences in school district levies and local assessment districts. Lake Zurich's median property tax rate is higher than the Illinois median of 2.33%, and the median tax bill of $8,667 is higher than the national median property tax bill of $2,400.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lake Zurich.
About Lake Zurich Property Taxes
About Property Taxes in Lake Zurich, Lake, Illinois
Lake Zurich's median effective property tax rate of 2.26% is lower than the Illinois state median of 2.33% and higher than the national median of 1.02%. This rate reflects the Lake County base levy combined with local school district levies and special service areas that vary by subdivision throughout the city.
Property tax rates are not uniform across Lake Zurich. Homeowners in the 60047 ZIP code carry a median effective rate of 2.26%, while those in the same ZIP code pay 2.26%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Lake County. Understanding which part of Lake Zurich you live in can make a meaningful difference to your annual tax bill.
Lake Zurich homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above 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 Zurich, 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 Zurich'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 Zurich Tax Rate
2.26%
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 Zurich, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60047 | 1.98% | 2.13% | 2.26% | 2.38% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Lake Zurich, Lake County, Illinois
When examining property taxes in Lake Zurich, 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 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 Lake Zurich.
For example, the median home price in Lake Zurich is $383,429, with tax bills ranging significantly across the county. 60047 has the highest median home price at $383,429.
Property Tax Assessment Values Across Lake Zurich, Lake County, Illinois
Source: Ownwell
$153,792
$627,201
$1,100,609
Median Lake Zurich Market Value
$383,429
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 Zurich, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60047 | $250,399 | $315,554 | $383,429 | $480,046 | $597,979 |
Source: Ownwell
Property Tax Bills Across Lake Zurich, Lake County, Illinois
Property tax bills in Lake Zurich are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. The assessed value is then used to determine how much tax a homeowner owes to local taxing bodies, including schools, municipal services, and other public needs. For Lake Zurich, the median home price is $383,429, and the median property tax bill is $8,667.
Several factors can affect the final bill, including changes in assessed value, local tax rates, and the mix of taxing districts that serve the property. Homeowners in Lake Zurich typically see bills that are well above the national median property tax bill of $2,400, reflecting the area’s higher local tax burden. The 25th percentile tax bill is $6,677, while the 75th percentile is $10,990, showing how much bills can vary across homes. For many homeowners, a higher property tax bill can significantly affect monthly housing costs and overall affordability.
Median Lake Zurich Tax Bill
$8,667
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 Zurich, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60047 | $5,130 | $6,677 | $8,667 | $10,990 | $13,793 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Lake Tax Assessor | |
| Website | tax.lakecountyil.gov |