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McHenry Times

Thursday, March 28, 2024

Analysis: Lake in the Hills pays property taxes two times national average

Mchenry11

Property owners in Lake in the Hills paid nearly 3 percent of the value of their home in taxes last year. That’s more than two times the national average, according to an LGIS analysis of real estate sales data in McHenry County from Jan 1. to June 30.

Local Government Information Service (LGIS) publishes the McHenry Times.

Lake in the Hills, population 28,936, recorded a median sale price of $210,000, based on data from the 329 properties sold during the first half of 2018. In 2017, homeowners paid a median property tax bill of $5,879, according to county tax data from the McHenry County Assessment Office.

That’s 2.80 percent of the community’s median home value. In the U.S., the average effective property tax rate is 1.19 percent.

Put another way: a $210,000 home in Indiana, where the effective rate is 0.89 percent, would have a property tax bill of about $1,869, or more than $4,000 less per year.

The analysis, including 25 McHenry County communities, shows homeowners in Barrington Hills, Bull Valley, Lakewood, Richmond, Prairie Grove, Cary, Lakemoor and Harvard pay the highest property taxes in the county: between 3 and 4 percent of their homes' value each year.

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 (2.28 percent).

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Top property rates in McHenry County

The following table ranks McHenry County communities by their median effective property tax rate, calculated using sales and property tax data from 2018.

CityJan - June 2018 SalesJan - June 2018 Median Price Median taxEffective Property Tax Rate
Barrington Hills10$431,750$15,9563.70%
Bull Valley12$337,750$11,7223.47%
Lakewood53$340,000$11,7273.45%
Richmond29$126,000$4,1793.32%
Prairie Grove27$325,000$10,4163.21%
Cary180$210,000$6,7003.19%
Lakemoor22$151,250$4,6423.07%
Harvard56$107,500$3,2973.07%
Crystal Lake419$202,000$5,8572.90%
McHenry308$176,250$5,0542.87%
Fox River Grove43$245,000$7,0152.86%
Algonquin190$227,000$6,4972.86%
Spring Grove60$289,500$8,2212.84%
Island Lake45$170,000$4,8032.83%
Woodstock233$165,000$4,6592.82%
Lake in the Hills329$210,000$5,8792.80%
Marengo56$157,000$4,1002.61%
Oakwood Hills30$219,000$5,7032.60%
Port Barrington18$275,000$7,0892.58%
Huntley188$240,500$6,0682.52%
Johnsburg53$250,000$6,1532.46%
Wonder Lake107$140,000$3,3862.42%
Pistakee Highlands29$140,000$3,2152.30%
Hebron12$151,384$3,2082.12%
Source: Blockshopper.com; McHenry County Assessor’s Office

Median sales prices in McHenry County

The following table ranks McHenry County cities by their year-over-year change in median sale price, which is calculated using prices of properties sold during the first six months of 2018.

CityJan - June 2017 SalesJan - June 2017 Median PriceJan - June 2018 SalesJan - June 2018 Median PriceChange
Johnsburg56$209,50053$250,00019.33%
Prairie Grove21$283,00027$325,00014.84%
Island Lake49$150,00045$170,00013.33%
Oakwood Hills23$196,00030$219,00011.73%
Marengo63$142,00056$157,00010.56%
Fox River Grove34$224,00043$245,0009.38%
Hebron8$139,00012$151,3848.91%
Lake in the Hills348$196,000329$210,0007.14%
Lakemoor29$142,00022$151,2506.51%
Wonder Lake105$132,000107$140,0006.06%
Woodstock214$156,000233$165,0005.77%
McHenry289$168,000308$176,2504.91%
Crystal Lake384$194,500419$202,0003.86%
Port Barrington11$270,00018$275,0001.85%
Spring Grove39$285,00060$289,5001.58%
Harvard64$107,50056$107,5000.00%
Bull Valley18$342,25012$337,750-1.31%
Cary158$215,500180$210,000-2.55%
Algonquin214$235,000190$227,000-3.40%
Pistakee Highlands33$145,00029$140,000-3.45%
Huntley225$254,500188$240,500-5.50%
Richmond27$140,00029$126,000-10.00%
Lakewood44$379,25053$340,000-10.35%
Barrington Hills11$521,50010$431,750-17.21%
Source: Blockshopper.com; McHenry County Recorder of Deeds

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