Cost of Business
Out of 34 communities in DuPage County, Oak Brook is ranked number one for having the lowest commercial and residential property tax rates. Oak Brook has NO LOCAL PROPERTY TAX. Oak Brook’s sales tax also remains among the lowest in the Chicago region at 7.75%, compared to, for example, 9.75% in Rosemont and Chicago. In addition, Oak Brook’s hotel tax is only 3%, compared to Rosemont’s 13% or Chicago’s 14.9%. Also, Oak Brook requires no local business license.
Oakbrook Terrace is ranked number 9, also for having one of the very lowest commercial and residential property tax rates at .24%. Oakbrook Terrace’s sales tax is also among the lowest in the Chicago region at 8.25%, again compared to 9.75% in Rosemont and Chicago. Oakbrook Terrace also adheres to a low hotel tax of 6%, significantly lower than Rosemont’s 13% or Chicago’s 14.9%.
Businesses, their employees, clients and visitors all enjoy free parking in both Oak Brook and Oakbrook Terrace. Parking in Chicago can cost companies and their employees up to $1,000 per person per year – just to park for work each day – and more to travel and park for meetings or to conduct other business. ln Oak Brook, parking is free all day – no plugging meters with money, no parking ramp fees, no hassles!
For more information about the cost of business and taxes in Greater Oak Brook, please contact Tracy Mulqueen at email@example.com.