Round Lake Heights, Lake County, Illinois Property Taxes

Name: Property Tax Bills Across Round Lake Heights, Lake County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Round Lake Heights, IL effective property tax rate: 3.04%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Round Lake Heights, IL home value: $198,419
Median annual Round Lake Heights, IL tax bill: $5,760, $3,360 higher than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

Property taxes in Round Lake Heights, 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 Round Lake Heights’ property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Round Lake Heights, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Round Lake Heights, Lake County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.58%

Estimate Property Tax Bill

$6,416

$5,954

Ownwell’s Round Lake Heights Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Round Lake Heights with just two data points. By entering your property's estimated assessed value, our calculator applies Round Lake Heights’ median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lake County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Round Lake Heights, Lake County, Illinois

Local government entities set tax rates, which can vary widely within a state. 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.

Round Lake Heights in Lake County, IL, stands out with its property tax rate of 3.04%, significantly higher than the national median of 1.02%. This means that homeowners in Round Lake Heights face a property tax bill that is considerably above the national median of $2,400. Such a high tax rate can impact affordability and the overall cost of homeownership in the area. Property owners might find it beneficial to explore property tax appeal and exemption services to potentially reduce their tax burden. Comparing this rate to other cities in Illinois and the U.S. highlights the significant variation in property tax obligations homeowners face across different regions.

Property Tax Rates Across Round Lake Heights, Lake County, Illinois

Source: Ownwell

1.87%

2.68%

3.49%

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 Round Lake Heights Tax Rate

2.58%

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 Round Lake Heights, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
60073	2.09%	2.29%	2.58%	2.65%	2.71%

Source: Ownwell

Property Tax Assessment Values Across Round Lake Heights, Lake County, Illinois

When examining property taxes in Round Lake Heights, 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 Assessor's 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: 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 Round Lake Heights. For example, the median home price in Round Lake Heights is $198,419, with tax bills ranging significantly across the county. 60073 has the highest median home price at $198,419.

Property Tax Assessment Values Across Round Lake Heights, Lake County, Illinois

Source: Ownwell

$153,792

$627,201

$1,100,609

Median Round Lake Heights Market Value

$248,682

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 Round Lake Heights, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
60073	$134,502	$161,588	$248,682	$295,687	$326,431

Source: Ownwell

Property Tax Bills Across Round Lake Heights, Lake County, Illinois

In Round Lake Heights, located in Lake County, IL, property tax bills are calculated 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 determine the annual tax bill. The median home price in the area is $198,419, with property tax bills ranging significantly. The 25th percentile tax bill is $3,567, while the 75th percentile reaches $6,922, and the 90th percentile climbs to $7,847. These figures are notably higher than the national median property tax bill of $2,400. For homeowners, this means a substantial portion of their income may go towards property taxes, potentially affecting their financial planning. Ownwell offers a solution by providing property tax appeal and exemption services. By reviewing assessments and identifying discrepancies, Ownwell can help homeowners in Round Lake Heights reduce their tax liabilities, ensuring they pay only what is fair and justified, ultimately leading to significant savings.

Property Tax Bills Across Round Lake Heights, Lake County, Illinois

Source: Ownwell

$4,033

$14,221

$24,409

Median Round Lake Heights Tax Bill

$6,147

Median Lake County Tax Bill

$8,402

Median Illinois Tax Bill

$5,277

Median United States Tax Bill

$2,400

Property Tax Bills Across Round Lake Heights, Lake County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
60073	$2,895	$3,738	$6,147	$7,713	$8,616

Source: Ownwell