Latres Singleton, like many other homeowners in the south and southwest suburbs, is going to struggle to pay her property taxes after historic increases this season.
“I’m considering ending up selling and moving over into Indiana, because this is ridiculous,” said Singleton, whose taxes almost doubled to $5,900 from last year’s $3,100.
She said she believes an expected increase in her mortgage payment will make homeownership in Calumet City even more difficult to manage.
With property tax bill payments due Aug. 1, some Cook County residents have been left wondering what to do if they are unable to pay on time.
While any late payments are charged a monthly interest rate of 0.75%, or 9% a year, county treasurer Maria Pappas said her office accepts partial payments and encourages them for homeowners who are feeling overwhelmed by this year’s especially high bills.
“This option may be more manageable for homeowners and small businesses to pay over several months,” she said.
Pappas said the late payment interest rate was cut in half effective this year with the hopes of providing some relief to those struggling to skate by. Median tax bills in 15 south suburbs, 13 of which have mostly Black populations, rose by 30% or more.
“These increases are hitting households with senior citizens and others who did not budget for such large increases and who do not have the full amount on hand to pay their tax bill,” Pappas said in a news release. “Distraught homeowners are under the impression that if they don’t pay their tax bill by Aug. 1 that they will lose their home, and that’s not the case.”
As many may have already done, those who believe their properties where wrongly assessed in any way still have the option to file an appeal, and more information about the property tax payment is available on the Cook County treasurer’s website.