READ YOUR BILL!: Treasurer Pappas tells homeowners hit by record property tax hikes to see 'Where Your Money Goes'
CHICAGO, July 10, 2024 /PRNewswire/ -- Cook County taxpayers should read their property tax bills to better understand record-high increases that have walloped homeowners, especially in the south and southwest suburbs, Treasurer Maria Pappas said today.
Tax bills are posted online at cookcountytreasurer.com, where property owners may view, download and pay bills. The Treasurer's Office mailed bills July 2 to owners of nearly 1.8 million parcels in Cook County. The due date is Thursday, Aug. 1.
Newly redesigned bills show taxpayers, "Where Your Money Goes." Bills show the amount of taxes owed for 2023 and how much the bill changed from 2022. The typical bill displays about a dozen taxing districts and shows how much is paid to each taxing body.
"The first thing homeowners should do about their property taxes is to read their tax bill," Pappas said. "In order to fix the broken property tax system, you must first understand where the money goes."
Pappas explained that this year's record-high 19.9% increase in median homeowner tax bills in the south and southwest suburbs were the result of two factors: increases in the amount of taxes requested by schools, municipalities and other taxing agencies; and, more significantly, a shift in tax burden from businesses to homeowners that resulted from the reassessment process that determines how much each property owner pays.
The online version of "Where Your Money Goes" allows taxpayers to click links for each taxing body. Visitors who enter an address or Property Index Number can search websites for school districts and other taxing bodies to research levies, budgets and other financial information. The website cookcountytreasurer.com also offers links to browse all financial reports filed by units of government.
Taxpayers can use the information from "Where Your Money Goes" to contact representatives of taxing bodies with questions and to learn when budget hearings and other public meetings are held. Taxpayers can research elections for their local taxing bodies and have a say in choosing their representatives at the next election.
To help homeowners burdened by high property tax bills, Pappas led a push to slash the interest rate charged for late taxes by half, from 18% to 9% per year. The reformed state law now means property owners who do not pay their taxes in full by the due date are charged interest of 0.75% per month instead of 1.5%. Those unable to pay in full may make partial payments that can reduce the amount of interest charged.
There is no fee to pay bills at cookcountytreasurer.com from bank accounts. There is a 2.1% processing fee for those who pay with a credit card. To view, download and pay tax bills online, select the blue box labeled "Pay Online for Free." Enter an address and Property Index Number (PIN), and a photo of the property should appear.
Contact: Maria Pappas 312.603.6202
SOURCE Cook County Treasurer Maria Pappas
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