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Cook County 2023 First Installment Tax Bills are Scheduled to be Due on March 1, 2023

The 2023 first installment bills have issued and will be due on Friday, March 1, 2024.  If you have not received your first installment 2023 tax bill, you can go on the Cook County Treasurer’s website – www.cookcountytreasurer.com, click on Payment Details (purple box) and type in your Permanent Index Number and click “First Installment 2023” real estate tax bill link to secure your first installment bill.  You can pay your bill on-line or at any Chase Bank location.  There is a 2.1% processing fee if you pay by credit-card.  If you do not pay timely, you are subject to interest and penalties at 0.75% per month.

The first installment bill is 55% of the prior year’s total real estate tax amount.  Any assessment reduction secured in connection with a tax appeal at the Cook County Assessor or Cook County Board of Review will be reflected in your second installment tax bill.

By the time the first or second installment tax bill issues, the time to challenge that year’s assessment has long passed.

On another note, the 2024 triennial assessment involves the reassessment of properties located in Chicago.  When you receive your notice of reassessment in the mail for properties located in Chicago, please note that the percentage increase of your assessment does not correlate exactly to the percentage increase or decrease of your real estate taxes.  Historically, in triennial reassessment years, higher overall assessments township-wide usually lead to declines in the equalized local tax rates which in turn, will reduce the percentage of an increase in the tax bill compared to the increase in the assessment for most properties.