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Forest Park, Cook County, Illinois Property Taxes

  • Median Forest Park, IL effective property tax rate: 2.99%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Forest Park, IL home value: $178,480

  • Median annual Forest Park, IL tax bill: $4,646, $2,246 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

Property taxes in Forest Park, IL are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Forest Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Forest Park, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Forest Park, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.99%

Estimate Property Tax Bill

$5,337

$4,952

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Forest Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Forest Park with just two data points.

By entering your property's estimated assessed value, our calculator applies Forest Park’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cook County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Forest Park, Cook County, Illinois

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

Forest Park in Cook County, Illinois, experiences one of the highest effective property tax rates in the state, with a median rate of 2.99%. This is significantly higher than both the Illinois state median and the national median property tax rate of 1.02%. Such a high rate can lead to substantial property tax bills compared to the national median bill of $2,400.

Understanding these figures is crucial for property owners in Forest Park, as it highlights the importance of exploring property tax appeal and exemption services. With the right guidance, there may be opportunities to alleviate the financial burden posed by these high taxes.

Property Tax Rates Across Forest Park, Cook County, Illinois

Source: Ownwell

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1.47%

4.93%

8.39%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Forest Park Tax Rate

2.99%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Cook County Tax Rate

2.01%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Forest Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
601301.70%2.51%2.99%3.40%3.40%

Source: Ownwell

Property Tax Assessment Values Across Forest Park, Cook County, Illinois

When examining property taxes in Forest Park, IL, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Cook County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Cook County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Forest Park. For example, the median home price in Forest Park is $178,480, with tax bills ranging significantly across the county. Zip code 60130 has the highest median home price at $178,480.

Property Tax Assessment Values Across Forest Park, Cook County, Illinois

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Forest Park Market Value

$178,480

Median Cook County Market Value

$210,000

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Forest Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60130$64,820$83,270$178,480$259,200$323,118

Source: Ownwell

Property Tax Bills Across Forest Park, Cook County, Illinois

In Forest Park, located in Cook County, IL, property tax bills are determined by assessing the property's value and applying the local tax rate. With a median home price of $178,480, Forest Park homeowners face a property tax bill that varies significantly, ranging from $2,301 at the 25th percentile to $9,961 at the 90th percentile. The median tax bill stands at $4,646, which is notably higher than the national median property tax bill of $2,400. These variations are influenced by factors such as property location, size, and assessed value. High property taxes can significantly impact homeowners, often leading to financial strain. Ownwell offers a solution by assisting homeowners in appealing their property tax assessments, potentially lowering their tax burden. Through expert analysis and personalized service, Ownwell identifies discrepancies and opportunities for exemptions, helping homeowners save money. By leveraging Ownwell's expertise, Forest Park residents can ensure they are not overpaying on their property taxes, gaining financial relief and peace of mind.

Property Tax Bills Across Forest Park, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Forest Park Tax Bill

$4,646

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Forest Park, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60130$1,028$2,301$4,646$7,690$9,961

Source: Ownwell

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