Lake County Property Tax Bills: What You Need to Know
Lake County property tax bills will be mailed out on May 1st and will be received shortly thereafter. Payments are due in two equal installments: Due June 5th and September 5th.
The Easiest Way to Pay
Lake County Treasurer Holly Kim has streamlined the payment process, making it simple and hassle-free. The eCheck system is the most convenient method—it’s free of charge and easy to use.
I personally recommend using eCheck online, as it’s a quick and reliable way to pay. Visit the Lake County Treasurer’s website for step-by-step instructions or call 847-377-2323 for assistance.
https://www.lakecountyil.gov/199/Property-Taxes
Taxes Are Increasing — Here’s Why
Due to inflation, local taxing bodies are permitted to increase spending under the Illinois Property Tax Extension and Limitation Law (PTELL). This year, spending adjustments are based on the current inflation rate of 3.4%.
However, tax bills are rising even more than expected:
- Initially, a 3-4% increase was anticipated, but the actual average increase is 5%.
- Of the 28 jurisdictions in Lake Villa Township, 10 are increasing spending by more than 4.5%.
- Schools have seen the largest spending increases—some districts are experiencing over a 10% increase!
- The Lake County Forest Preserve passed a referendum increasing spending.
Amid these increases, Lake Villa Township stands out as the only taxing jurisdiction that did not increase spending!
Taxes Increase Comparison
Use the link below or navigate to the tax comparison page to find a detailed comparison of average tax bill increases. The spreadsheet is sorted by Village and then by the various school districts in combination within the area.
https://lvassessor.org/tax-comparisons-and-graphs/
Understanding School Spending Increases
Several school districts have very large spending increases this year as detailed on the Spending Comparison chart. For school districts the primary driver of increase in spending is the Property Tax Relief Grant (PTRG), which some districts received in Levy Year 2023 but did NOT receive in Levy Year 2024. The PTRG played a crucial role in tax relief last year. Here’s how it impacted your tax bill:
- In Levy Year 2023, some districts received the PTRG, allowing them to lower their tax levies and provide relief to local taxpayers.
- However, eligibility for the grant changes each year based on state funding availability and criteria set by the Illinois State Board of Education.
- Unfortunately, several districts did not qualify for the PTRG in Levy Year 2024, meaning they had to return to their full levy amount, making it appear as though spending increased—when in reality, it was a result of losing the prior year’s relief.
While this may seem like a sharp increase, it’s not necessarily due to a spike in spending—it reflects the absence of tax relief previously applied.
Need Help? The Assessor’s Office Is Open
The Lake Villa Township Assessor’s Office is open to the public and ready to assist residents with questions about: Property assessments; Real estate taxes or Exemptions
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.
Links
Lake Villa Township Assessor’s page
• Assessment and Spending Comparisons, informative articles
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