Cook County Announces Property Tax Relief for County Property Owners
Wednesday, May 13, 2020
COOK COUNTY – Recognizing the financial toll of the coronavirus and the pressing need to extend economic relief to area homeowners, Cook County Board President Toni Preckwinkle announced Wednesday plans to waive late fees on property tax payments.
“These are incredibly difficult times for our residents and this measure creates much-needed breathing room for Cook County property owners,” Preckwinkle said.
“With residents and businesses facing so many challenges and difficulties because of the coronavirus, waiving late fees on property taxes is the right thing to do right now. This can keep residents in their homes and allow businesses much needed time to recover from the COVID-19 pandemic.”
Under the proposed relief ordinance, interest penalties for late payments of the second installment of property taxes, which are normally due August 3, will now be postponed until October 1.
Any payments made on or before October 1 for property tax second installments will be considered filed and paid on time by Cook County Treasurer Maria Pappas. Under state law, late property tax payments are charged 1.5 percent of the total property taxes owed per month, which is collected by the Cook County Treasurer.
“We’re in the midst of a national crisis with lives and livelihoods at stake,” said Cook County Assessor Fritz Kaegi. “In a time of financial hardship for County taxpayers, this decision provides relief to those most in need of it.”
“This initiative is something we can do immediately that offers much-needed tax relief during these unprecedented and challenging times,” Preckwinkle added. “It is our hope this measure can help alleviate some of the financial strain and anxiety being experienced by residents and businesses, while balancing the fiscal needs of our underlying taxing districts.”
Read full press release from Cook County President's Office: