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Waiver of late penalties for two months on Cook County property tax bills due by August 3, 2020

Waiver of late penalties for two months on Cook County property tax bills due by August 3, 2020

The deadline to pay 2nd installment tax bills is extended to October 1, 2020. Any payments made on or before Oct. 1, 2020 would be considered filed and paid on time by the Cook County Treasurer.

The Cook County Board of Commissioners approved the waiver of late penalties for two months on property tax bills due by August 3, 2020. Under state law, late property tax payments are charged 1.5% of the total property taxes owed per month.

Cook County 2nd installment property tax bills for Tax Year 2019 will be generated in June and posted for viewing or printing by June 15, 2020, on cookcountytreasurer.com.

Property owners should expect to receive their 2nd installment tax bills by mail on July 1, 2020. About 10% of all tax bills are paid by check or credit cards. 80% of Cook County property tax payments are made by bank escrow accounts. New homeowners who are receiving a property tax bill for the first time can make the mistake of paying their tax bill, when their bank’s escrow account has been authorized to make immediate payments, typically in July.

Cook County Board President Toni Preckwinkle lead the plan through the many discussions among county elected officials, who face a multi-million dollar shortage of revenue due to the State’s COVID-19 quarantine orders.

The Cook County Treasurer collects $13.9 billion annually on behalf of more than 2,200 jurisdictions, municipalities, school districts, park and forest districts, libraries, and Cook County health and criminal justice facilities.

President Preckwinkle noted that too many Cook County property owners are struggling in very challenging times and the “measure creates much-needed breathing room for Cook County property owners” with two extra months to pay by October 1, 2020.

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