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Sales taxes represent a significant source of revenue for the Village and are utilized to fund general Village operations and capital infrastructure investment.
The sales tax rate for general merchandise in Lake Zurich is 7.5%.
Here is how the 7.5% rate breaks down:
6.25% - State of Illinois (1% of this is shared with the Village)
0.50% - Lake Zurich non-home rule sales tax
0.75% - Regional Transportation Authority
The total revenue projected from this source is $4,714,521 in fiscal year 2016B (May 1, 2016 - December 31, 2016).
By shopping in Lake Zurich, you help support local business and keep property taxes low.
To learn more about Lake Zurich tax rates,
please click here to read more...