Property Tax Bills Due March 1
First installment property tax bills for tax year 2017 were mailed on January 26 and are due on Thursday, March 1, 2018. Property taxes are paid in two installments. The first installment is fifty-five percent of a property's total tax bill for the previous year.
First installment tax bills will not reflect homeowner, senior citizen or other exemptions, nor will they reflect the impact of successful assessment appeals filed for tax year 2017. Exemptions and successful appeals will instead appear on second installment bills, along with the effect of changes in the tax levies of local governments.
Total tax bills for the year should be calculated by late June, at which time second installment bills will be issued. The amount due on the second installment will be the total annual tax bill for each property, less the first installment payment.
Information for those who prepaid taxes
At the beginning of 2018, changes to the federal tax law took effect that limited the deductibility of property tax payments on income tax returns. Approximately 120,000 Cook County taxpayers sought to avoid the impact of this change by paying their first installment tax bills before January 1.
Most taxpayers who paid their first installment bills in full by the end of 2017 will not receive a tax bill in the mail. Those taxpayers will instead receive an email notification indicating that they have a $0 balance on the first installment. Bills indicating a $0 balance will be mailed only to those taxpayers who did not provide email addresses when making prepayments.
Details about paying taxes
If money for property taxes is paid into an escrow account with a taxpayer’s mortgage company, the financial institution should receive the tax bill electronically, even if the taxpayer also receives a copy of the bill. Taxpayers with property tax escrows held by their mortgage companies should not pay property taxes on their own. If they do, an overpayment of property taxes may result.
Property owners who do not have mortgage companies paying their taxes can make tax payments in person, by mail, or online at the Cook County Treasurer’s website, cookcountytreasurer.com. To encourage online payments, the Treasurer’s office has eliminated the $1 fee previously charged for electronic payments from bank accounts.
Those wishing to pay in person can do so at the Cook County Treasurer’s downtown Chicago office at 118 N. Clark St. or at any Chase Bank in the Chicago area. Chase branches most convenient to Evanston residents are located at 1901 McDaniel Ave., 1900 Central St., 1603 Orrington Ave., and 635 Chicago Ave.
Evanston residents are encouraged to call the City’s Property Tax Assessment Review Office, at 847-448-8168, with any questions or concerns.