cook county property tax information

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.

how do cook county property taxes work

For more information on this and other FAQs about your property taxes, see the brochures available from the Cook County Treasurer’s Office:

How to Read Your Bill

New Homeowners Guide

Property Tax Payment Guide

Saving you Money

cook county property tax information

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 

cookcountypropertyinfo.com

 Property Tax Savings Information

Property Tax Savings Program NOT included in the above website:

property tax preservation of illinois

Property Tax Freeze Assessment for Historic Properties

For information on this program, go to one of the following links:

trust for historic architectural easements

Financial Savings for Historic Properties – Residential/Commercial – Local, State, Federal

Property Tax Assessment Freeze

Other savings programs available for homeowners:

  1. Local Incentives, such as the Chicago Bungalow Initiative
  2. Property Facade Easement Donation — see also Preservation Easement Trust
  3. Energy Star tax savings on Federal Income Taxes – see Kiplinger Article – November, 2013
  4. FNMA construction loans, such as the 203K

What’s a 203K?  Realtor.com article
FAQ Sheet on 203K loans
Current 203K loan limits
Ask a Qualified Lender how to get your 203K loan — Contact Diane Pyshos

For information on Cook County Property Taxes, Tax Savings Programs, or to find qualified homes for these savings opportunities,

Contact Anne Rossley Today!

773-620-5333

Email Anne Rossley with Chicago real estate questions

 

 

 

 

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