Homeowners in Riverwoods, Lake County, pay about 2.15% of their home's value in property tax each year. The median bill is $10,000+.
At Riverwoods's typical rate of 2.15%. Exemptions lower the real bill.
| Home value | Property tax (estimate) |
|---|---|
| $250,000 | $5,384 |
| $350,000 | $7,538 |
| $450,000 | $9,691 |
| $600,000 | $12,922 |
| $800,000 | $17,229 |
A family with a $800,700 home in Riverwoods pays about $17,244 in property tax. With $120,000 of income they also pay about $5,940 in Illinois income tax, so their SALT deduction is $23,184 — 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 |
|---|---|---|---|
| Lincolnshire | Lake | 2.38% | $10,000+ |
| Deerfield | Lake | 2.47% | $10,000+ |
| Wheeling | Cook | 2.14% | $6,029 |
| Buffalo Grove | Lake | 2.56% | $10,000+ |
| Northbrook | Cook | 1.45% | $10,000+ |
| Highland Park | Lake | 2.08% | $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 Riverwoods pay a typical effective property tax rate of 2.15% of home value per year. The median annual bill is $10,000+ and the median home value is $800,700 (U.S. Census ACS 2020–2024).
About $8,614 per year at Riverwoods's typical rate of 2.15%. The homeowner exemption and other exemptions lower the actual bill.
Riverwoods's typical rate of 2.15% is lower than 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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