Property taxes are expensive enough without extra fines and fees added to the bill. Below are a few tips and extra steps you can take to avoid late fees.
Stay on top of tax bill due dates
There is usually a consistent schedule for property tax bill notifications and mailings. If you do not receive your tax bill at the expected time, contact the Treasurer’s Office immediately.
In Illinois, late penalties still apply in cases where the taxpayer received their bill late or did not receive a bill at all. Exemptions are not granted for taxpayers who were unaware they had received their bill due to medical emergencies or out of state travel. Even if you make your property tax payment a single day late, the penalty will still apply.
How much are the late fees?
Payments made after the due date are subject to a penalty that amounts to 1.5% per month on the amount of unpaid installment balance after the stated due date.
If no payment is received after the second installment date, additional penalties and administrative fees may be added to the total amount due. It is possible to get penalty payments forgiven, but only in the case of a documented error on the part of the county.
Properties with Delinquent Taxes
After the Treasurer’s office has finished issuing second installment notices, they publish a list of delinquent properties in county newspapers. The property PIN, the unpaid amount, and the property owner’s name are included in the listing.
If you find your information listed and you do not believe it is correct, you should promptly contact the Treasurer’s office. Even if it was published in error, you don’t want to leave delinquent payment issues unresolved.
Impact of COVID-19
Illinois law allows property tax due dates to be altered and fees to be waived if a disaster declaration has gone into effect. This currently applies in all counties due to the coronavirus pandemic.
Late fees have been waived and delayed in Cook County considering the financial hardship and uncertainty that many taxpayers are facing due to COVID-19. Many Illinois counties approved measures to delay property tax payment due dates in order to give temporary relief to struggling homeowners. You can check the Treasurer’s Office website for updated information regarding COVID-19 related extensions.
Whether you have been severely impacted by the pandemic or if you have been able to pay your Cook County property tax bills without worry of accumulating late fees, you should still appeal your property taxes.
Property taxes unappealing? We can help!
Appealing your property taxes is one way to ensure that the amount you pay is fair whether you live in the north/northwest suburbs, south/southwest suburbs, or in the City of Chicago.
At present, Illinois is second only to New Jersey with the highest effective property tax rates in the United States. A 2020 study found that some Chicago area homeowners pay twice the national average in property taxes for a similarly valued home. Moreover, property tax hikes are slated for 2021.
Appeal.Tax can prepare your property tax appeal and handle it from start to finish. We understand local appeal procedures to help homeowners avoid being overburdened with property taxes.
Appeal.Tax has no fee unless a reduction is obtained. And we only charge a small portion of the overall tax savings secured.
Since 2015, we’ve saved Illinois property owners over $100 million in reduced property taxes.
Contact Appeal.Tax today to discuss your Association, residential, or commercial property tax appeal. Tax Attorney Timothy Jacobs can be reached at 847-777-7270 or tjacobs@ksnlaw.com.
appeal. Tax Attorney Timothy Jacobs can be reached at 847-777-7270 or tjacobs@ksnlaw.com.