Taxes

Taxing Times

Tax Spending for the 2020 Tax Bills

Lake County Property Tax bills are being mailed May 3rd and should be received by the end of the week.

Good News / Bad News
There is good news and bad news when reviewing spending by the taxing bodies. Spending, also known as the extension/levy process, is the money requested from the property taxes. The more money is spent the more the tax bills increase.

First the good news. There are 6 taxing bodies that maintained or decreased spending; Lake County 0%, Lake Villa Township -6%, Lake Villa School District 41 -11%, Antioch High School District 117 -16%, Lake Villa Library -4%, and the Village of Lake Villa -1%.

The 2 school district reductions are the most impactful. Both retired building referendums after 20 years, like paying off a mortgage. Although District 41 passed a smaller less expensive referendum last year, similar to a refinance mortgage. If you reside in the area encompassed by these two districts your taxes will decrease this year.

Now the bad news. Not everyone will see a tax decrease. Other schools in our area increased spending ranging from 2 to 4%. Since school comprise the majority of the real estate tax, most tax bills are increasing by 2–3%. For people living in the Village of Round Lake Beach, their spending increased by 9%. Since the village is a “homerule” jurisdiction they are not subject to the Property Tax Limitation laws.

Comparisons and Tax Graphs
The Lake Villa Township Assessor Office website hosts the comparisons and tax graphs (link below). There are comparisons for spending, assessed values and tax rates for each taxing body in the Township. Also, tax  graphs depict where your tax dollars are being spent. There are 5 graphs for the areas within the Township.

Exemptions Reduce Taxes

Be sure to check for exemptions on your tax bill.  The most common exemptions are General Homestead, Senior Homestead, Senior Assessment Freeze, Disabled Person / Veteran and Home Improvement.  On the bottom right side of the tax bill, the computation ladder lists the deductions in assessed value for each exemption.  Also, the Property Search feature on the County website has a tab notating all exemptions.  If you find you are missing an exemption, please contact my office.

Exemptions Reduce Taxes

Links
Lake Villa Township Assessor’s page
• Assessment and Spending Comparisons, informative articles

Tax Comparisons and Graphs

Lake County Website for Property Information
• Assessment, Real Estate Taxes, and Property Tax Extension data

http://www.tax.lakecountyil.gov

Jeffrey A. Lee
Lake Villa Township Assessor
Phone: 1-847-356-2383
Email: Assessor@LakeVillaAssessor.org


Clerk’s Office for more data

The Lake County Clerk Robin O’Connor’s office is responsible for computing the tax rates from the levy requests and district assessments. Their web site has a wealth of information; detail for each taxing jurisdiction; County-wide summaries; as well as historical data dating back to 2006

Their website is https://www.lakecountyil.gov/263/Tax-Extension


Treasurer’s’s Office for more data

The Lake County Treasurer Holly Kim’s office is responsible for printing the tax bills, collecting tax payments and dispersing taxes to the taxing bodies.  For payment information, please visit the website is https://www.lakecountyil.gov/198/Treasurers-Office

Real Estate Taxes are due in two equal installment generally payable in the first week of June and September

Please mail your payment to:

Lake County Treasurer’s Office
18 N. County Street
Waukegan IL 60085
847-377-2323