Second Installment 2021 Property Tax Bills Due on December 30, 2022
Cook County Treasurer Maria Pappas announced that the second installment 2021 real estate tax bills will be posted on the Cook County Treasurer’s website (www.cookcountytreasurer.com) next Tuesday or Wednesday, November 14th or 15th. Taxpayers will be able to download their tax bill to print and mail their payment in, pay online at the Treasurer’s website, at Chase Bank branches or at the Treasurer’s Office downtown. The Treasurer stated that the second installment 2021 tax bills will be mailed out on December 1, 2022 and will be due on December 30, 2022. Historically, the second installment tax bills are issued in early July and are due in early August.
Cook County Board President Toni Preckwinkle has publicly stated that her office wanted to make sure that Cook County taxpayers could take full advantage of the federal, state and local deductions on their 2022 income tax returns.
Because of the late issuance of the tax bills by roughly 4 months, municipalities would normally have to issue tax anticipation warrants (bonds) to cover the costs associated with paying their bills after their levied funds for the calendar year had been depleted. Fortunately, to help taxing bodies such as towns and villages, library, school and park districts pay for operations during the delay, Preckwinkle secured a $300 million bridge loan for the county’s most cash-strapped districts. The interest-free loans would help pay for operations and prevent taxing bodies from having to take out costlier loans in the market. Only 22 taxing bodies received loans, totaling just over $39 million. Most districts were eliminated due to ineligibility which includes the City of Chicago and its taxing bodies including the Chicago Public Schools.