Forrest, Livingston County, Illinois Property Taxes

Name: Property Tax Bills Across Forrest, Livingston County, Illinois
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Forrest, IL effective property tax rate: 2.96%, significantly higher than the national median of 1.02%, but lower than the Illinois state median of 2.35%.
Median Forrest, IL home value: $160,293
Median annual Forrest, IL tax bill: $4,694, $2,294 higher than the national median property tax bill of $2,400.

How are property taxes in Livingston calculated?

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

Last Updated March 1, 2025

Forrest, Livingston County, Illinois Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.96%

Estimate Property Tax Bill

$4,745

$4,403

Ownwell’s Forrest Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Forrest with just two data points. By entering your property's estimated assessed value, our calculator applies Forrest’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 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 Livingston County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Forrest, Livingston County, Illinois

Local government entities determine property tax rates, and these can differ significantly across a state. This variation is due to the fact that each county calculates its necessary budget to deliver services annually. This budget is then divided by the total value of all taxable property within the county, resulting in the property tax rate. Although the process involves votes and legislation, this is essentially how it works each year.

In Forrest, located in Livingston County, the effective property tax rate is notably higher than the national median of 1.02%. With a median tax rate of 2.96%, Forrest's rate stands out not only within Illinois but also on a national scale. This is significant, especially when compared to the national median property tax bill of $2400. The effective property tax rate in Forrest is reflective of the specific fiscal needs and property values within Livingston County. Understanding these rates is crucial for property owners considering tax appeals or exemptions.

Property Tax Rates Across Forrest, Livingston County, Illinois

Source: Ownwell

2.69%

3.10%

3.51%

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 Forrest Tax Rate

2.96%

Median Effective Livingston County Tax Rate

3.02%

Median Effective Illinois Tax Rate

2.35%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Forrest, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
61741	2.55%	2.69%	2.96%	3.25%	3.51%

Source: Ownwell

Property Tax Assessment Values Across Forrest, Livingston County, Illinois

When examining property taxes in Forrest, Illinois, 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 Livingston County Appraisal District 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 Livingston County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Forrest. For example, the median home price in Forrest is $160,293, with tax bills ranging significantly across the county. The 61741 zip code has the highest median home price at $160,293.

Property Tax Assessment Values Across Forrest, Livingston County, Illinois

Source: Ownwell

$103,203

$160,239

$217,275

Median Forrest Market Value

$160,293

Median Livingston County Market Value

$144,219

Median Illinois Market Value

$194,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Forrest, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
61741	$38,761	$107,134	$160,293	$207,663	$262,742

Source: Ownwell

Property Tax Bills Across Forrest, Livingston County, Illinois

In Forrest, Illinois, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the tax bill. The median home price in Forrest is $160,293, and homeowners typically face a median property tax bill of around $4,694, significantly higher than the national median property tax bill of $2,400. Factors such as local government budgets and school funding needs can influence the tax rate, impacting homeowners' bills. In Forrest, the 25th percentile of tax bills is $3,041, while the 75th percentile reaches $6,073, and the 90th percentile goes up to $8,340. Homeowners in Forrest can benefit from Ownwell's expertise in property tax appeals and exemptions. By leveraging local market data and understanding the nuances of the assessment process, Ownwell can help homeowners identify potential savings and reduce their property tax burden, ensuring they only pay what is fair.

Property Tax Bills Across Forrest, Livingston County, Illinois

Source: Ownwell

$3,410

$5,342

$7,273

Median Forrest Tax Bill

$4,694

Median Livingston County Tax Bill

$4,592

Median Illinois Tax Bill

$4,715

Median United States Tax Bill

$2,400

Property Tax Bills Across Forrest, Livingston County, Illinois

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
61741	$1,470	$3,041	$4,694	$6,073	$8,340

Source: Ownwell