Homeowners in Libertyville, Lake County, pay about 2.23% of their home's value in property tax each year. The median bill is $10,000+.
At Libertyville's typical rate of 2.23%. Exemptions lower the real bill.
| Home value | Property tax (estimate) |
|---|---|
| $250,000 | $5,584 |
| $350,000 | $7,817 |
| $450,000 | $10,051 |
| $600,000 | $13,401 |
| $800,000 | $17,868 |
A family with a $512,000 home in Libertyville pays about $11,436 in property tax. With $120,000 of income they also pay about $5,940 in Illinois income tax, so their SALT deduction is $17,376 — under the $40,400 cap. That alone does not beat the $32,200 standard deduction for married couples; mortgage interest and charity decide the rest.
| Town | County | Rate | Median bill |
|---|---|---|---|
| Mundelein | Lake | 2.38% | $8,404 |
| Green Oaks | Lake | 2.04% | $10,000+ |
| Vernon Hills | Lake | 2.54% | $10,000+ |
| Gages Lake | Lake | 2.40% | $7,233 |
| Round Lake Park | Lake | 1.32% | — |
| Grayslake | Lake | 3.02% | $10,000+ |
Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates. Unofficial estimate, not a tax bill. Updated 2026-10-08.
Homeowners in Libertyville pay a typical effective property tax rate of 2.23% of home value per year. The median annual bill is $10,000+ and the median home value is $512,000 (U.S. Census ACS 2020–2024).
About $8,934 per year at Libertyville's typical rate of 2.23%. The homeowner exemption and other exemptions lower the actual bill.
Libertyville's typical rate of 2.23% is about the same as the Lake County average of 2.26%.
Yes, if you itemize. For 2026, property tax plus Illinois income tax count toward the SALT deduction, capped at $40,400 ($20,200 if married filing separately) and reduced above $505,000 of income. Itemizing helps only if your total deductions beat the standard deduction: $32,200 married filing jointly, $16,100 single, $24,150 head of household.
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