This week, we received our Cook County Property Tax Bill — in 2014, taxes are due March 4th.
One of the most confusing facts about our property taxes, which trips up many buyers and sellers, is what you’re paying for on that date. In Cook County, we pay taxes in arrears, meaning that on 3/4, you’re paying for LAST YEAR’s taxes. You won’t pay for all 12 months’ worth, as you know. You’ll be paying for the first half of property taxes. It’s half of what you paid IN TOTAL the year before.
The second installment, due in the fall, may or may not (emphasizing may NOT) be the same amount. That second payment gets adjusted, based on several factors – property value, tax protests that succeeded or failed, county budgets, and more. Learn how the Cook County Property Tax System works at cookcountypropertyinfo.com.
For more information on this and other FAQs about your property taxes, see the brochures available from the Cook County Treasurer’s Office:
Get the Information on YOUR HOME
There’s a web address where you can find out information from the various offices – Treasurer, Clerk, Recorder, Assessor – you can download forms, read about the tax system, see the upcoming calendar, and read about saving money on your taxes.
One Stop Website–
Cook County Property Information
Property Tax Savings Program NOT included in the above website:
Property Tax Freeze Assessment for Historic Properties
For information on this program, go to one of the following links:
Other savings programs available for homeowners:
- Local Incentives, such as the Chicago Bungalow Initiative
- Property Facade Easement Donation — see also Preservation Easement Trust
- Energy Star tax savings on Federal Income Taxes – see Kiplinger Article – November, 2013
- FNMA construction loans, such as the 203K
For information on Cook County Property Taxes, Tax Savings Programs, or to find qualified homes for these savings opportunities,