Cook County Real Estate Taxes Second Installment Due Date
What are Real Estate Taxes?
Real estate taxes are taxes levied on the ownership of real property. These taxes are paid to the local government entity, and they are used to fund public services such as schools, roads, and emergency services. The amount of real estate taxes that a property owner must pay is determined by the assessed value of the property, which is determined by the local government.
What is Cook County?
Cook County is the second-most populous county in the United States, located in the northeastern part of the state of Illinois. The county seat is Chicago, the third-most populous city in the United States. Cook County includes more than 130 municipalities and unincorporated areas.
What is the Cook County Real Estate Tax?
The Cook County Real Estate Tax is a tax on real property located in Cook County. The tax is collected by the Cook County Treasurer's Office, and it is used to fund public services in the county.
When is the Second Installment Due?
The second installment of the Cook County Real Estate Tax is due on August 3rd, 2021. Property owners have until this date to pay the second installment without penalty. If the second installment is not paid by August 3rd, the property owner will be subject to a penalty of 1.5% per month until the tax is paid in full.
How is the Cook County Real Estate Tax Calculated?
The Cook County Real Estate Tax is calculated by multiplying the assessed value of the property by the tax rate. The assessed value of the property is determined by the Cook County Assessor's Office, and the tax rate is set by the Cook County Board of Commissioners.
What Happens if I Don't Pay the Second Installment on Time?
If the second installment of the Cook County Real Estate Tax is not paid by August 3rd, the property owner will be subject to a penalty of 1.5% per month until the tax is paid in full. Additionally, if the tax remains unpaid for an extended period of time, the Cook County Treasurer's Office may initiate legal action to collect the tax.
How Can I Pay the Second Installment?
There are several ways to pay the second installment of the Cook County Real Estate Tax:
- Online: Property owners can pay the tax online through the Cook County Treasurer's website.
- Mail: Property owners can mail a check or money order to the Cook County Treasurer's Office.
- In Person: Property owners can pay the tax in person at the Cook County Treasurer's Office.
What If I Can't Pay the Second Installment?
If a property owner is unable to pay the second installment of the Cook County Real Estate Tax by the due date, they may be able to set up a payment plan with the Cook County Treasurer's Office. This will allow the property owner to pay the tax in installments over a period of time.
Conclusion
The second installment of the Cook County Real Estate Tax is due on August 3rd, 2021. Property owners who are unable to pay the tax by the due date may be subject to penalties and legal action. To avoid these consequences, property owners should make sure to pay the tax on time or set up a payment plan with the Cook County Treasurer's Office.