News & Insights

Cook County, Illinois Plans to Waive Late Fees on Property Taxes

Tax Development Jan 20, 2021

Cook County, Illinois Plans to Waive Late Fees on Property Taxes

Recognizing the continued financial impact of COVID-19, the Cook County Board has approved a waiver of late fees on property tax payments for residential and commercial owners. Under the waiver, interest penalties for late payments of the first installment 2020 taxes, which are due March 2, 2021, will now be postponed until May 3, 2021, and the second installment 2020 taxes, which are due August 2, 2021, will now be postponed until October 1, 2021. Payments made on or before May 3 and October 1 will be considered timely. Late property tax payments are normally charged 1.5% interest of the property taxes owed per month. The first installment taxes, which are 55% of the prior year’s total taxes, are currently available at www.cookcountytreasurer.com.       

The experts at Ryan are in constant contact with the jurisdictions and monitoring trends and changes as a result of COVID-19. Continue to check our COVID-19 Tax Updates site for the most recent developments.

TECHNICAL INFORMATION CONTACT:

Shawn M. King
Principal
Ryan
312.980.1127
shawn.king@ryan.com

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