Jan
31

Cook County Property Tax Bills Due A Month Later

January 31, 2011

Chicago real estate owners can look on the bright side when receiving their property tax bills this week: They’ll have an extra 30 days to pay it.

More than 1.7 million property tax bills are on their way to Cook County homes and businesses, and for the first — and possibly only — time, property owners will have 60 days to pay it.

Cook County sealThe due date for the bills, which cover the First Installment of Tax Year 2010, are usually March 1 or the first business day in March.

But Cook County Treasurer Maria Pappas reminded homeowners on Monday that the Illinois Legislature recently passed a law extending the due date to April 1 for this year only. The change came after 2010 second-installment bills were mailed late.

It’s a one-time change; The due date next year will, once again, be March 1.

The bills are calculated to be 55 percent of the previous year’s total amount.

Take advantage of the extra time this year, but don’t miss the April 1 deadline: If you do, there will be a penalty of 1.5 percent per month.

Pappas also advised that if your mortgage company makes the payments out of escrow accounts for you, it must be committed by February 25 to pay by April 1.

Now, how to pay. Pappas said payments can be made:

*At cookcountytreasurer.com

*At more than 400 Chase Bank locations

*From personal accounts at 208 participating community banks.

Can’t wait to get the mail to see the damage? Find out now. Visit cookcountytreasurer.com with your Property Index Number and you can see your property tax bill right this second.

You can also call (312) 443-5100 for more information.

Then, remember to look on the bright side.

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Tracey

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