Tax Information
A significant percentage of the Village's revenue is in the form of taxes including:
Property Tax
The Village finances between 17% and 27% of its operations through property taxes and is continually striving to diversify its revenue base in order to reduce reliance on the property tax. The Village's portion of the property tax reflects 11% of the total tax bill.
| Taxing Agency | Percentage of Tax Bill |
| School Districts | 74% |
| Village of River Forest | 11% |
| Cook County | 5% |
| Park District | 3% |
| Water Reclamation | 3% |
| Public Library | 2% |
| Township | 1% |
| All Other Taxing Bodies | 1% |
| Total | 100% |
Sales Tax
Sales tax for general merchandise in River Forest is 9.25% (the sales tax for Food and Drugs is 2.25%). The sales tax is comprised of four separate taxing authorities as noted below:
|
Taxing Authority
|
Portion of Sales Tax
|
|
State of Illinois
|
6.25%
|
|
Cook County
|
1.00%
|
|
Regional Transportation Authority (RTA)
|
1.00%
|
|
Village of River Forest
|
1.00%
|
|
Total
|
9.25%
|
Real Estate Transfer Tax
When a real estate property is sold in River Forest, a tax equal to $1.00 for every $1,000 (or fraction thereof) of consideration must be paid. This is the responsibility of the property seller.
Example
|
Amount sold for
|
Divide by 1,000
|
Multiply by $1.00
|
Final amount owed
|
|
$410,750
|
$410,750/ 1,000 = 411
|
411 x $1.00= $411
|
$411.00
|
The following steps must be taken to receive transfer stamps:
- Arrange for a a zoning inspection (Tuesday and Friday mornings) by calling 708-366-8500, final water meter reads will be taked when necessary during this inspection
- Complete transfer tax form and submit with payment at Village Hall
- Pick up transfer stamps, zoning certificate and pay final water bill (stamps must be taken to the closing and filed with Cook County)
Places for Eating Tax
The Places for Eating tax is levied on the gross receipts received for prepared food sold at retail. The amount of the tax is 1% and is placed on the owners of places for eating, who can pass the tax along to consumers.
"Places for Eating" is defined as a place where prepared food is sold at retail for immediate consumption with seating provided on the premises, including any outdoor seating on the premises, whether the food is consumed on the premises or not.
- Registration Form
- Tax Return Form- For your convenience, save the Excel file on your computer. You may then enter the receipt amounts and the spreadsheet will calculate the return amount.
Utility Tax
The utility tax includes the following:
- Simplified Telecommunications Tax- 6%
- Natural Gas Tax- 5% of amount billed
- Electric Use Tax- Varied based on kilowatt hours
Income Tax
A portion of the State of Illinois income tax is distributed to municipalities on a per capita basis.
- Details
- Last Updated on Friday, April 20, 2012
