Cook County COVID-19 Property Tax Payment Extension Expires Oct. 1
The Cook County COVID-19 property tax payment extension expires Oct. 1, 2020, the last day to pay the second installment tax without penalty. Typically due Aug. 3, the second installment interest penalties for late payments were postponed in recognition of strained economic conditions caused by the pandemic. Any payments made on or before Oct. 1 will be considered paid on time.
Under state law, late property tax payments are charged 1.5% of the total property taxes owed per month, which is collected by the Cook County Treasurer. Payments made after the Oct. 1 deadline will be subject to late payments.
Get Started Appealing Your Assessment with the Ease of Clickable E-Signature
Property owners can now sign property tax appeal forms electronically – with no need to obtain the services of a notary
At Kensington, our services are designed to help property owners save time and money, and we put a premium on making things as convenient for our clients as possible.
These days, however, there’s more than convenience to be gained in streamlining the process. Our adoption of e-signature capability means you don’t have to go out searching for a notary to notarize your documents. That’s an unnecessary risk in a pandemic year. But it’s also time you can put to better use, as the process of appealing your assessment is now easier than ever.
To accommodate the need for social distancing safeguards, the Cook County Assessor’s Office no longer requires the notarizing of forms to start the appeal process: a digital signature is all you need. The start of your appeal is just a few clicks away.
Property Tax Relief For Small Multifamily Property Owners
With unemployment at the highest it has been since the Great Depression, many American families are struggling to pay rent. Last month, a third of all renters failed to pay on time – a number that will likely increase as unemployment continues to rise.
In the Chicago area, evictions and foreclosures are banned during the shelter-in-place order. During this time, mom-and-pop building owners with 10 or fewer units are likely to be hardest hit, along with other small, multifamily properties and low-to-moderate income housing.
For Cook County’s small multifamily building landlords, it is a threat that makes the property tax assessment process even more important. Nearly half of Chicago residents are renters, according to the U.S. Census Bureau. Smaller building landlords face the prospect of a growing number of tenants struggling to pay their rent. For landlords who cater to Chicago area college students, the prospects may be even grimmer if the pandemic interrupts a return to campus in the fall.