Libertyville, Lake County, Illinois Property Taxes
Property Taxes in Libertyville, Illinois
Median Libertyville, Illinois effective property tax rate: 2.35%, significantly higher than the national median of 1.02%, and higher than the Illinois state median of 2.33%.
Median Libertyville, Illinois home value: $506,841
Median annual Libertyville, Illinois tax bill: $12,025, $9,625 higher than the national median property tax bill of $2,400.
How are property taxes in Lake County calculated?
Property taxes in Libertyville, 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 Libertyville's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Libertyville, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Libertyville, Lake County, Illinois Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.35%
Estimate Property Tax Bill
$11,911
$11,053
How Does the Libertyville Property Tax Calculator Work?
Use this Libertyville property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Libertyville's median effective tax rate of 2.35% — based on actual property records in Lake County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Libertyville'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 Libertyville: rates range from 2.35% in 60048 to 2.35% in 60048, 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 Libertyville.
About Libertyville Property Taxes
About Property Taxes in Libertyville, Lake, Illinois
Libertyville's median effective property tax rate of 2.35% 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 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 Libertyville. Homeowners in the 60048 ZIP code carry a median effective rate of 2.35%, while those in the same ZIP also pay 2.35%. This reflects how school district boundaries and local assessment districts are drawn across Lake County. Understanding which part of Libertyville you live in can make a meaningful difference to your annual tax bill.
Libertyville 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 Libertyville, 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 Libertyville'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 Libertyville Tax Rate
2.35%
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 Libertyville, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60048 | 2.12% | 2.26% | 2.35% | 2.48% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Libertyville, Lake County, Illinois
When examining property taxes in Libertyville, 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 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.
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.
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. For example, the median home price in Libertyville is $506,841, with tax bills ranging significantly across the county. 60048 has the highest median home price at $506,841.
Property Tax Assessment Values Across Libertyville, Lake County, Illinois
Source: Ownwell
$153,792
$627,201
$1,100,609
Median Libertyville Market Value
$506,841
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 Libertyville, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60048 | $280,694 | $385,524 | $506,841 | $661,040 | $867,054 |
Source: Ownwell
Property Tax Bills Across Libertyville, Lake County, Illinois
Property tax bills in Libertyville are calculated by multiplying a home’s assessed value by the local tax rate, then adjusting for exemptions and taxing district levies. The assessed value is based on the market value of the property, and local governments use that figure to determine each homeowner’s share of the tax burden. In Lake County, the median home price is $506,841, which helps explain why tax bills can be substantial.
What homeowners pay depends on several factors, including the home’s assessed value, the tax rate, and the mix of local services funded by property taxes. In Libertyville, the median property tax bill is $12,025, with the 25th percentile at $8,732 and the 90th percentile at $21,252. That is far above the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
For homeowners, this means property taxes can be a major part of annual housing costs.
Median Libertyville Tax Bill
$12,025
Median Lake County Tax Bill
$8,402
Median Illinois Tax Bill
$5,277
Median United States Tax Bill
$2,400
Property Tax Bills Across Libertyville, Lake County, Illinois
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 60048 | $6,095 | $8,732 | $12,025 | $15,926 | $21,252 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Lake Tax Assessor | |
| Website | tax.lakecountyil.gov |