Expecting many south suburban homeowners to miss this year’s Aug. 1 property tax deadline in the face of historically high bills, Cook County announced Monday a service to help manage late payments.
Cook County Treasurer Maria Pappas’ office released the payment plan calculator, an online tool that sets up a biweekly or monthly schedule for payment chunks as well as accumulating interest charges of 0.75% per month late.
“The calculator is designed to provide an actual system for those at risk of having their past-due taxes sold at the county’s Annual Tax Sale, an auction of unpaid property taxes,” the treasurer’s office said in a news release.
The tax sale, scheduled for 13 months after the second installment deadline, offers up unpaid taxes, forcing the property owner to pay overdue taxes and interest in a single payment. Pappas said thousands of these properties are “routinely” owned by people owing less than $1,000, making planning ahead all the more important.
“There is no need for homeowners to be at the mercy of the merciless Annual Tax Sale,” Pappas said. “This Payment Plan Calculator can help them keep control when they may think all is lost.”
A tutorial for how to use the Payment Plan Calculator at cookcountytreasurer.com is available on YouTube.
The Cook County Board also revealed last week it is looking into the possibility to use property tax late fees to provide relief to homeowners, many of whom say they fear how they are going to get by with taxes that increased about 20% this year.
ostevens@chicagotribune.com
