Late property tax bills in Cook County will be due by year’s end; Preckwinkle announces loan program for towns and schools who need those revenues to operate
Cook County Board President Toni Preckwinkle speaks with the Chicago Tribune Editorial Board on May 10.
Preckwinkle didn’t offer a definitive date for when bills would be sent, only telling reporters that she was “confident that the separately elected officials will be able to collect and distribute property taxes by the end of the calendar year.”The pledge means individual taxpayers will be able to “take full advantage of the federal, state and local tax deduction” on their 2022 federal income taxes, she said.
The second installment of the yearly property tax bills is typically due Aug. 1 and — with the exception of last year’s two-month COVID-19 delay — has not been this late for roughly a decade. Getting bills out on time was a key goal for Preckwinkle when she came into office, since late revenue collections can force taxing bodies short on cash to take on extra debt to cover costs.
Applications will be open through the month of August, and funds would be distributed in early September.
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