60085 Property Tax Rate

Property owners in ZIP code 60085 (Waukegan, Illinois) pay a median of $4,104/year in property taxes on homes valued at $164,800. This translates to an effective tax rate of 2.49%, which is 33% above the Illinois state average of 1.88%.

The monthly property tax burden for a median-valued home in 60085 is approximately $342, which factors into escrow payments on mortgages. This ZIP code is located within Lake County. This is $603 more than the Illinois average of $3,501/year.

Compared to similar ZIP codes in Illinois, 60085 has lower property taxes. ZIP codes with similar effective rates include 60131 (2.49%) and 60119 (2.49%).

In Waukegan, property taxes represent approximately 6.4% of the median household income of $64,330, providing context for the relative tax burden on homeowners in this area.

Illinois caps assessed value growth at 7% annually under its assessment law, but your property will be reassessed at purchase price upon sale. Lake County offers a General Homestead Exemption of $10,000 off assessed value — file with the Lake County Assessor's office by the deadline specified in your Supervisor's Notice of Assessment. Contact the Lake County Assessor immediately after purchase to register for the exemption and confirm your base year value, as TIF districts in this region can complicate tax calculations.