Last Friday the Illinois Appellate Court for the Third District shot down a tax increment financing (TIF) district created by the City of Crest Hill finding that the parcels within the proposed TIF area were not contiguous and stating that […]
Category: Property Tax
For-profit daycare centers have a history of being denied property tax exemptions by the Illinois Department of Revenue. A recent decision from the Illinois Appellate Court upholds another such denial and extends the precedent to include for-profit daycare centers that […]
Last week, the General Assembly adopted legislation that attempts to clarify the power of county boards to waive all or a portion of the interest penalty of 1.5% per month that is normally applied to late property tax payments. The […]
The Illinois Department of Revenue has released the final 2019 Cook County equalization factor. The factor (sometimes referred to as the multiplier) for 2019 is 2.9160. The press release from the Department of Revenue is available here. Cook County equalization […]
Earlier today the Cook County Board of Commissioners approved an ordinance declaring that no interest will accrue on the second installment of 2019 taxes, due on August 3, 2020, provided the taxes are paid on or before October 1, 2020. […]
Yesterday Cook County Board President Toni Preckwinkle announced that the County Board of Commissioners will be considering an ordinance at their May 21st meeting to waive penalty interest for 60 days following the August 2nd due date for the second […]
Several County governments have taken steps to move the due dates for property tax payments or have eliminated the penalty provisions for taxpayers who do not pay taxes on time. To date, we are aware of four counties that have […]
On Friday, The Chicago Sun-Times reported that Cook County Assessor Fritz Kaegi is moving to send notices to all property owners in Cook County regarding the effect of the coronavirus on property owners. Reassessment notices will still be sent to all property […]