Cook County homeowners struggling to pay record-high property tax bills won't need to break the bank come the Aug. 1 due date.
Cook County homeowners struggling to pay record-high property tax bills won't need to break the bank come the Aug. 1 due date. Homeowners can make partial payments if they can't pay their bills in full, Cook County Treasurer Maria Pappas said.Pappas acknowledged that residents have been faced with significant tax increases, particularly in the south and southwest suburbs. The median tax bill in those areas jumped nearly 20% compared to last year, with some bills soaring over 30%.
"RELATED: Cook County property taxes: Who's to blame for skyrocketing bills?The partial payment option may ease the burden of paying the full amount by Aug. 1. However, late payments will accrue a monthly interest rate of 0.75%. Pappas previously advocated for legislation that reduced the late penalty fee from 1.5% to 0.75%, offering some financial relief.
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