Illinois Versus Indiana Property Tax Comparison For Homeowners

This ARTICLE On  Illinois Versus Indiana Property Tax Comparison For Homeowners Was PUBLISHED On September 15th, 2019

Illinois is home to many including myself and Gustan Cho Associates Mortgage Group.

  • Downtown Chicago is probably one of the most beautiful spots, if not the most beautiful, in the country
  • Everything about Illinois is great
  • The city and surrounding suburbs is a melting pot of all cultures
  • Chicago and surrounding suburbs have the country’s best ethnic restaurants
  • O’Hare International Airport is the second busiest and largest airport in the United States
  • Illinois is the home of world top universities like the University of Illinois, University of Chicago, and Northwestern University
  • Housing prices are reasonable in Illinois
  • However, property taxes in many Chicago suburbs is 4% of the values of the property
  • This makes Illinois property taxes four times higher than the national average
  • This is the main reason why Illinois homeowners are leaving the state to Indiana and other neighboring states with lower taxes

We will do Illinois Versus Indiana Property Tax Comparison on this blog.

Property Tax Comparison And Why Residents Are Leaving State

We will do an Illinois Versus Indiana Property Tax Comparison.

  • Lake County, Illinois has one of the highest property taxes in the state
  • Round Lake, Illinois has a population of 19,000 residents
  • The median sales price in Round Lake is $195,000 in the first half of 2018
  • Average property taxes in Round Lake, Illinois was $7,270

That is 4.0% property tax rate when the national average is 1.19%. 

Illinois Versus Indiana Property Tax Comparison On Similar Property

Illinois Versus Indiana Property Tax Comparison On Similar Property

The main reason why Illinois homeowners are selling their homes and moving to Indiana is due to Illinois Versus Indiana Property Tax Comparison.

  • The effective property tax rate in Northwest Indiana is 0.89%
  • A $195,000 home in Indiana will cost the homeowner $1,735.50
  • This is quite a savings on this Illinois Versus Indiana Property Tax Comparison
  • Why would retirees and those who can work remotely not move to a state with lower property taxes
  • Illinois property taxes is recorded as the second highest in the United States with an effective median rate of 2.32%
  • New Jersey, at 2.28%, has the highest property tax rates

Illinois homeowners pay the second-highest property taxes in the country with an effective median rate of 2.32 percent, just behind those in New Jersey’s (2.28 percent). 

Communities In Illinois Versus Indiana Property Tax Comparison

The following date reflects home prices versus property taxes in some communities in Lake County, Illinois.

City Jan – June 2018 Sales Jan – June 2018 Median Price Median tax Effective tax rate
Zion 182 $116,603 $4,987 4.28%
Volo 14 $245,500 $9,854 4.01%
Hainesville 50 $140,295 $5,628 4.01%
Grayslake 220 $209,500 $8,380 4.00%
Lakemoor 14 $190,500 $6,860 3.60%
Lake Villa 90 $221,750 $7,964 3.59%
Lindenhurst 152 $201,000 $7,170 3.57%
Beach Park 74 $155,843 $5,368 3.44%
Third Lake 10 $281,750 $9,633 3.42%
Round Lake 122 $197,000 $6,713 3.41%
Round Lake Heights 13 $157,000 $5,104 3.25%
Winthrop Harbor 61 $177,000 $5,748 3.25%
Long Grove 79 $577,500 $18,470 3.20%
Lincolnshire 67 $440,000 $13,527 3.07%
Buffalo Grove 240 $340,000 $10,116 2.98%
Round Lake Beach 213 $138,000 $4,073 2.95%
Tower Lakes 9 $362,500 $10,610 2.93%
Antioch 203 $220,000 $6,329 2.88%
Gurnee 254 $234,450 $6,712 2.86%
Wauconda 92 $220,000 $6,246 2.84%
Waukegan 323 $127,900 $3,596 2.81%
Cary 5 $246,500 $6,743 2.74%
Gages Lake 84 $191,000 $5,197 2.72%
Round Lake Park 27 $121,000 $3,283 2.71%
Horatio Gardens 9 $280,000 $7,555 2.70%
North Barrington 19 $525,000 $14,147 2.69%
Fox Lake 72 $166,750 $4,493 2.69%
Highland Park 204 $476,250 $12,806 2.69%
Long Lake 25 $111,500 $2,990 2.68%
Lotus Woods 7 $108,500 $2,898 2.67%
Deerfield 205 $440,000 $11,741 2.67%
Kildeer 30 $577,450 $15,394 2.67%
Lake Catherine 14 $155,250 $4,067 2.62%
Grandwood Park 60 $255,000 $6,638 2.60%
Channel Lake 9 $150,305 $3,904 2.60%
Bannockburn 7 $900,000 $23,217 2.58%
Riverwoods 18 $612,500 $15,730 2.57%
Vernon Hills 220 $325,000 $8,247 2.54%
Hawthorn Woods 76 $480,274 $12,052 2.51%
Park City 6 $147,500 $3,651 2.48%
Libertyville 215 $388,000 $9,586 2.47%
Island Lake 23 $194,000 $4,772 2.46%
Wadsworth 26 $362,500 $8,752 2.41%
Lake Barrington 92 $298,000 $7,182 2.41%
Mundelein 85 $185,000 $4,448 2.40%
Spring Grove 8 $125,000 $3,004 2.40%
Barrington 63 $412,500 $9,870 2.39%
Green Oaks 23 $547,500 $12,667 2.31%
Forest Lake 13 $245,000 $5,624 2.30%
Lake Zurich 137 $330,000 $7,412 2.25%
Venetian Village 25 $159,900 $3,589 2.24%
Deer Park 27 $500,000 $11,168 2.23%
Highwood 15 $312,000 $6,966 2.23%
Fox Lake Hills 36 $183,000 $3,994 2.18%
Ingleside Shore 33 $194,500 $4,105 2.11%
Barrington Hills 5 $937,500 $19,745 2.11%
Knollwood 11 $280,000 $5,830 2.08%
North Chicago 58 $105,500 $2,174 2.06%
Lake Bluff 57 $560,000 $11,197 2.00%
Lake Forest 171 $820,000 $14,244 1.74%

Property Tax Comparison And Home Prices

Illinois Versus Indiana Property Tax Comparison And Home Prices

The following data below show towns and cities in Lake County, Illinois. It is categorized by median sale price. It is calculated by taking prices of properties sold during the first six months of 2018.

City Jan – June 2017 Sales Jan – June 2017 Median Price Jan – June 2018 Sales Jan – June 2018 Median Price Change
North Chicago 59 $65,000 58 $105,500 62.31%
Grandwood Park 47 $180,000 60 $255,000 41.67%
Wadsworth 29 $270,000 26 $362,500 34.26%
Lakemoor 26 $144,950 14 $190,500 31.42%
Channel Lake 20 $115,450 9 $150,305 30.19%
Bannockburn 3 $725,000 7 $900,000 24.14%
Ingleside Shore 38 $159,000 33 $194,500 22.33%
Zion 167 $96,000 182 $116,603 21.46%
Round Lake Park 34 $100,515 27 $121,000 20.38%
Horatio Gardens 8 $234,500 9 $280,000 19.40%
Venetian Village 26 $137,450 25 $159,900 16.33%
Antioch 148 $190,500 203 $220,000 15.49%
Winthrop Harbor 58 $155,500 61 $177,000 13.83%
Lotus Woods 5 $96,000 7 $108,500 13.02%
Round Lake Beach 205 $123,000 213 $138,000 12.20%
Barrington Hills 7 $837,500 5 $937,500 11.94%
Park City 4 $133,000 6 $147,500 10.90%
Third Lake 14 $255,450 10 $281,750 10.30%
Round Lake 128 $179,350 122 $197,000 9.84%
Vernon Hills 280 $296,000 220 $325,000 9.80%
Lake Catherine 14 $141,500 14 $155,250 9.72%
Volo 23 $224,670 14 $245,500 9.27%
Lake Bluff 78 $513,000 57 $560,000 9.16%
Deer Park 33 $460,000 27 $500,000 8.70%
Lincolnshire 85 $405,000 67 $440,000 8.64%
Fox Lake Hills 32 $171,450 36 $183,000 6.74%
Waukegan 362 $120,000 323 $127,900 6.58%
Gurnee 286 $221,500 254 $234,450 5.85%
Wauconda 96 $208,000 92 $220,000 5.77%
Buffalo Grove 246 $321,959 240 $340,000 5.60%
Spring Grove 8 $118,750 8 $125,000 5.26%
Libertyville 228 $369,000 215 $388,000 5.15%
Island Lake 28 $186,250 23 $194,000 4.16%
Lake Zurich 146 $320,000 137 $330,000 3.13%
Kildeer 39 $560,000 30 $577,450 3.12%
Lindenhurst 140 $197,500 152 $201,000 1.77%
Grayslake 220 $209,000 220 $209,500 0.24%
Green Oaks 27 $550,000 23 $547,500 -0.45%
Barrington 63 $415,000 63 $412,500 -0.60%
Deerfield 173 $445,000 205 $440,000 -1.12%
Lake Forest 132 $829,825 171 $820,000 -1.18%
Mundelein 98 $187,750 85 $185,000 -1.46%
Long Grove 67 $590,000 79 $577,500 -2.12%
Highland Park 235 $488,000 204 $476,250 -2.41%
Beach Park 101 $160,000 74 $155,843 -2.60%
Hainesville 36 $144,975 50 $140,295 -3.23%
Fox Lake 76 $172,500 72 $166,750 -3.33%
Hawthorn Woods 86 $499,678 76 $480,274 -3.88%
Riverwoods 35 $637,500 18 $612,500 -3.92%
North Barrington 35 $550,000 19 $525,000 -4.55%
Lake Villa 98 $232,500 90 $221,750 -4.62%
Gages Lake 84 $203,500 84 $191,000 -6.14%
Knollwood 10 $315,000 11 $280,000 -11.11%
Round Lake Heights 22 $179,950 13 $157,000 -12.75%
Lake Barrington 76 $345,000 92 $298,000 -13.62%
Forest Lake 16 $284,500 13 $245,000 -13.88%
Tower Lakes 9 $427,000 9 $362,500 -15.11%
Long Lake 33 $147,000 25 $111,500 -24.15%
Highwood 10 $424,000 15 $312,000 -26.42%
Cary 6 $374,750 5 $246,500 -34.22%

Gustan Cho Associates is an a national mortgage company with no overlays on government and conventional loans. Home buyers who are thinking of relocating to a different state with lower home prices and property taxes, please contact us at 262-716-8151 or text us for a faster response. Or email us at [email protected]

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