Zero Percent for the Fifth Time in the Last Eight Years
Park Forest, IL—(ENEWSPF)—The Village of Park Forest announced it will not raise the property tax levy for the upcoming fiscal year. This marks the fifth time a zero percent tax increase has occurred in the last eight years. The Village has chosen not to increase taxes on residents.
During a November Village Board meeting, Park Forest’s Finance Director Mark Pries updated the Village’s financial health. He concluded that Park Forest is in a solid financial position and highlighted that this strong fiscal status eliminates the need for any increase in the tax levy. Director Pries shared various financial metrics and reports illustrating the Village’s stable revenue streams and prudent fiscal management practices.
Reports: Cook Co. Residents Saw Highest Tax Increases in 30 Years
Property taxes have become a topic of discussion among the residents of Park Forest and the surrounding areas. According to recent reports, many homeowners in south suburban Cook County have expressed concern over rising property tax bills, which soared by nearly 20% this year alone. This dramatic increase is the highest in 30 years. This prompted residents to seek clarity and support from local officials regarding their financial burdens.
Officials and staff in Park Forest have taken proactive steps to address the impacts of property taxes. In July, Mayor Joseph A. Woods communicated with residents to clarify that the Village is not responsible for raising taxes on Park Foresters. This is due to decisions made by other taxing bodies.
“Let me be very clear: the Village of Park Forest did not raise Cook County property taxes, nor do we have the authority to do so,” Woods wrote. “What we are experiencing are the consequences of decisions made by the Cook County Assessor’s Office. Despite this, the Village has actively advocated for our residents and sounded the alarm about what we anticipated would be a catastrophic situation for both our community and the Southland region. Our goal is for residents to remain in their homes, not to be pushed out.”
Statement by Mayor Woods
In the upcoming winter edition of Discover Magazine, Park Forest Economic Development, and Planning Director Sandra Zoellner pinned a multi-page story explaining how the Village is working on making property taxes equitable for all businesses and residents. Zoellner said that the Village’s efforts helped lower the overall tax rate, making Park Forest more attractive to homeowners and businesses.
The Village invited residents to a public hearing at Park Forest Village Hall earlier this month if anyone had questions or comments about the proposed property tax levy.
For more information about the zero percent tax levy, click here.
This piece is from a release propagated by the Village of Park Forest.
