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Oak Forest, Cook County, Illinois Property Taxes

  • Median Oak Forest, IL effective property tax rate: 3.36%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.

  • Median Oak Forest, IL home value: $170,725

  • Median annual Oak Forest, IL tax bill: $5,691, $3,291 higher than the national median property tax bill of $2,400.

How are property taxes in Cook calculated?

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

Last Updated March 1, 2025

Oak Forest, Cook County, Illinois Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.36%

Estimate Property Tax Bill

$5,736

$5,323

SAVE WITH OWNWELL

$1,102

Average Tax Savings

Ownwell’s Oak Forest Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oak Forest with just two data points. By entering your property's estimated assessed value, our calculator applies Oak Forest’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 Oak Forest, Cook County, Illinois

Local government entities determine tax rates, which can significantly differ within a state. This variation occurs because each county annually calculates its required budget for services and divides it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the yearly process.

In OAK FOREST, located in Cook County, IL, the effective property tax rate stands out when compared to other cities in Illinois and the national average. With a median property tax rate of 3.36%, OAK FOREST surpasses both the Illinois median and the national median of 1.02%. This higher rate reflects the county's budgetary needs and the total assessed property values. Despite being the highest and lowest within its zip code, 60452, OAK FOREST's rate highlights the regional disparities in property taxation. Understanding these rates is crucial for property owners seeking to manage their tax liabilities effectively.

Property Tax Rates Across Oak Forest, 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 Oak Forest Tax Rate

3.36%

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 Oak Forest, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
604522.11%2.90%3.36%3.83%4.15%

Source: Ownwell

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

When examining property taxes in OAK FOREST, 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 OAK FOREST. For example, the median home price in OAK FOREST is $170,725, with tax bills ranging significantly across the county. 60452 has the highest median home price at $170,725.

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

Source: Ownwell

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$25,480

$637,740

$1,250,000

Median Oak Forest Market Value

$170,725

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 Oak Forest, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
60452$84,679$137,665$170,725$197,120$234,841

Source: Ownwell

Property Tax Bills Across Oak Forest, Cook County, Illinois

In Oak Forest, IL, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. Cook County's median property tax bill is notably higher than the national median, with homeowners in Oak Forest paying an average of $5,691 annually, compared to the national median of $2,400. The tax bill can vary significantly, with the 25th percentile at $3,793 and the 90th percentile reaching $8,539. These figures highlight the substantial financial impact property taxes can have on homeowners in this area. Factors influencing the tax bill include the property's market value, assessment rate, and local government levies. Homeowners might find themselves paying more than necessary if their property's assessed value is inaccurate. This is where Ownwell comes in, offering expert property tax appeal services to ensure fair assessments. By leveraging local knowledge and expertise, Ownwell helps homeowners potentially reduce their tax bills, providing significant savings and peace of mind.

Property Tax Bills Across Oak Forest, Cook County, Illinois

Source: Ownwell

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$569

$15,332

$30,094

Median Oak Forest Tax Bill

$5,691

Median Cook County Tax Bill

$4,680

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Oak Forest, Cook County, Illinois

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
60452$2,044$3,793$5,691$6,954$8,539

Source: Ownwell

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