Recognizing the continued financial impact of COVID-19, the Cook County Board has approved a waiver of late fees on property tax payments for residential and commercial owners. Under the waiver, interest penalties for late payments of the first installment 2020 taxes, which are due March 2, 2021, will now be postponed until May 3, 2021, and the second installment 2020 taxes, which are due August 2, 2021, will now be postponed until October 1, 2021. Payments made on or before May 3 and October 1 will be considered timely. Late property tax payments are normally charged 1.5% interest of the property taxes owed per month. The first installment taxes, which are 55% of the prior year’s total taxes, are currently available at www.cookcountytreasurer.com.
The experts at Ryan are in constant contact with the jurisdictions and monitoring trends and changes as a result of COVID-19. Continue to check our COVID-19 Tax Updates site for the most recent developments.
TECHNICAL INFORMATION CONTACT:
Shawn M. King
Principal
Ryan
312.980.1127
shawn.king@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Shawn M. King
- Property Tax
- Illinois