CHICAGO, Jan. 25 /PRNewswire-USNewswire/ -- The state of Illinois has mandated a change in how First Installment property tax bills for tax year 2009 are calculated, Cook County Treasurer Maria Pappas said today.
Bills for about 1.7 million parcels of real estate across Cook County have been mailed, and payment is due March 2, 2010, Pappas said. Late payment receives a penalty of 1.5 percent per month.
Pappas said that the new bills are the first affected by a law passed by the Illinois Legislature ordering that the First Installment be calculated at 55 percent of the previous year's property tax obligation. The calculation rate had been 50 percent for previous First Installment bills.
The remaining property tax obligation for tax year 2009 will be calculated in the Second Installment bill later this year. Pappas said that due date cannot be determined until other agencies review some 400,000 assessment appeals.
If that appeals process is delayed, the Second Installment due date could be as late as December, 2010, or January, 2011, according to projections during county budget hearings in the fall.
Property owners can visit www.cookcountytreasurer.com and enter their Property Index Number to see how much their current bills are, whether they have received proper exemptions, and whether they are due a refund.
Payment information also is available at 312.443.5100 in English, Polish and Spanish.
Pappas said payment can be made:
- Electronically, at www.cookcountytreasurer.com.
- At any of more than 370 Chase Bank locations.
- From personal accounts at some 220 participating community banks.
SOURCE Cook County Treasurer's Office