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Illinois General Assembly Approves Refund Recapture Levy for Certain Property Tax Refunds

Yesterday  the Illinois General Assembly passed Senate Bill 508 (SB 508).    SB 508 creates a new Section 18-233 in the Property Tax Code amending the Property Tax Extension Limitation Law (PTELL) to allow taxing districts to...more

Cook County to Activate 2011 to 2014 Tax Rate Objections and Send Notices to Taxing Agencies Electronically

In the next few weeks, Cook County school districts and other taxing agencies will be receiving notices from the State’s Attorney’s Office that the tax rate objection complaints for the 2011 to 2014 tax years are being...more

Illinois Appellate Court Upholds PTAB Decision Involving Farm Property Appraisal

The Illinois Appellate Court recently upheld a decision of the Illinois Property Tax Appeal Board (PTAB) involving the assessed value of a farm property owned by Edward Sims Jr. Trust (Trust) in Edward Sims Jr. Trust v. Henry...more

General Assembly Approves Legislation Allowing All Counties Except Cook County to Waive Interest Penalties for Late Property Tax...

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...more

Illinois Dept. of Revenue Releases Final 2019 Cook County Equalization Factor

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...more

Cook County Board Approves Two Month Interest Deferral on August Property Tax Bill

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...more

Cook County Board to Consider Sixty Day Break on August Tax Bill

This week 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...more

Cook County Assessor Effectively Reassessing Entire County Due to Coronavirus

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...more

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