Over more than a decade, the Village has continued to experience a declining property tax rate. Since 1987 the Village's tax rate for municipal government has declined 57% . The Village's share of the typical total tax bill has also declined. In 1987 the Village’s tax rate was .929. Twenty-two years later, the 2009 property tax rate is .404 or only 4% of the total rate of all taxing entities.
The Village’s property tax rate decrease over the period is even more impressive considering the expansion of some municipal services over the period and the fact that the Village has been able to complete over $50 million in community improvements financed without property taxes.
The Village, like other taxing districts, relies on property taxes for a portion of its operating revenues. The Village receives approximately four (4) percent of a Grayslake resident’s property tax bill, depending on the elementary school district in which you live.
For a homeowner living in Grayslake, this means your 2009 property tax bill for a $250,000 home is approximately $7,687.50 (School District #46 residents) or $7,460.83 (School District #50 residents). Of this amount, the Village of Grayslake receives $336 per year, which equates to $28.00 per month.
Listed in the table below are the approximate dollar amounts paid toward the 2009 property tax bill by Grayslake residents. Note that the Village only receives a small portion of your total property tax bill. You can see from the table that the Village is one of many taxing districts that receive funds directly from your property tax payments.
| Taxing District | 2009 Property Taxes* | |||
| School Dist. #46 Resident |
School Dist. #50 Resident |
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| County | 5% |
$377.50 | 5% |
$377.50 |
| Forest Preserve | 2% |
$165.83 | 2% |
$165.83 |
| Village of Grayslake | 4% |
$336.67 | 4% |
$336.67 |
| High School #127 | 33% |
$2,555.00 | 34% |
$2,555.00 |
| School District | 37% |
$2,850.83 | 35% |
$2,624.17 |
| College of Lake County | 2% |
$163.33 | 2% |
$163.33 |
| Township of Avon | 2% |
$119.17 | 2% |
$119.17 |
| Grayslake Community Park Dist. | 4% |
$299.17 | 4% |
$299.17 |
| Grayslake Area Library Dist. | 4% |
$277.50 | 4% |
$277.50 |
| Grayslake Fire Protection Dist. | 6% |
$507.50 | 7% |
$507.50 |
| Joint Action Water Agency | 1% |
$35.00 | 1% |
$35.00 |
| Total Taxes Paid | 100% |
$7,687.50 | 100% |
$7,460.83 |
*Figures based on a $250,000 home. Actual bills may vary depending on home valuations, property tax, homestead or other credits.
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