Illinois Governor Signs Law That Will Get Cook County Property Tax Refunds Out Faster
A small change in the law governing the way refunds for overpaid property taxes are administered in Cook County will speed up the process for some claimants by raising the annual cap on total refund payments.
Prior to the amendment, which took effect upon the governor’s signature earlier this month, a provision in the Property Tax Code allowed the County to delay property tax refunds for overpayments or erroneous payments until the next calendar year if the total amount of refunds paid out hit a cap of $2.5 million. That meant that a particularly sizable refund, like one due on a large commercial property, could quickly push refund payments over the cap and cause smaller refunds to be held up.
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