The Village of Park Forest announced it will not raise the property tax levy for the upcoming fiscal year. This marks the fifth time in the last eight years that the Village has chosen not to increase taxes on its 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. Pries shared various financial metrics and reports illustrating the Village's stable revenue streams and prudent fiscal management practices.
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, prompting 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; instead, 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."
In the upcoming winter edition of Discover Magazine, Park Forest Economic Development and Planning Director Sandra Zoeneller pinned a multi-page story explaining how the Village is working on making property taxes equitable for all businesses and residents. In summary, Zoeneller explained that the Village's efforts helped lower the overall tax rate, which she said makes Park Forest more attractive to homeowners and businesses alike.
The Village invited residents to a public hearing earlier this month that was held at Park Forest Village Hall if anyone had questions or comments about the proposed property tax levy.
For more information about the tax levy, click here.