Cook County offers new resource for homeowners struggling with property tax hikes
COOK COUNTY, Ill. - Cook County residents facing rising property taxes and past-due bills are getting some extra help.
A new online tool, the Payment Plan Calculator, aims to help residents avoid the "merciless" Annual Tax Sale, according to Treasurer Maria Pappas.
Available for free on the Cook County Treasurer's website, the calculator allows homeowners to create a personalized payment plan for outstanding property taxes. Residents can choose between monthly or bi-weekly installments, making it easier to manage their tax burden.
"We want to do everything possible to help people pay off their tax debt," Pappas said. "We routinely find that thousands of properties offered at our Annual Tax Sale are owned by people who owe less than $1,000 in taxes."
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Suburban homeowners are feeling the pinch of significant property tax increases, and Cook County Assessor Fritz Kaegi explained to FOX 32 what part of the problem stems from.
The south and southwest suburbs have been particularly hit hard by tax increases this year. The Payment Plan Calculator offers a solution for residents in these areas who may struggle to pay their full bill by the Aug. 1 deadline.
Residents can sign up for email or text reminders to stay on track with their personalized plans. Late fees accrue quickly, with a 0.75% monthly interest charge for 2023 taxes and a steeper 1.5% for previous years.
The Annual Tax Sale occurs roughly 13 months after the missed due date. If a property reaches this stage, the owner must pay the full amount owed in one lump sum to reclaim it.
"The Annual Tax Sale knows no mercy," Pappas said.
A video tutorial is available to guide residents through using the Payment Plan Calculator.
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