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
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
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 800-900-8569 or text us for a faster response. Or email us at gcho@gustancho.com.
