Oak Forest Residents To See Property Tax Increase

OAK FOREST, IL — Oak Forest residents will soon pay more in city taxes, after the city council recently voted to approve a 2.5-percent increase in its tax levy.

Officials on Dec. 13 signed off on a tax levy of $11,860,301, representing the increase over last year, officials said in a release. As a result, an average homeowner can expect the city’s portion of the real estate tax to go up approximately $36.

The City will also pull from its reserve of general fund to close its budget gap, officials said.

"Realizing that many residents and business owners are struggling from increased energy, food and interest costs due to inflation, the city is using $160,000 of general fund reserves to close the gap and keep the tax levy as low as possible," officials said.

The tax levy calculation requires an increase of $457,000 in property taxes due to fiscal year 2023 operating expenses, capital projects, and authorized full-time personnel, which remains at 124.

"Using reserves is a temporary solution made possible because inflation and the rebounding economy boosted sales, income, and gaming taxes," officials said.

The city still meets its fund balance policy after the $160,000 withdrawal from reserves, they added.