3 Things to Know About Cook County Property Taxes
The Cook County Treasurer’s Office recently mailed first installment property tax bills. While the Assessor’s Office does not collect taxes, we do process and certify the exemption savings on your tax bills. Here is what to know about how property taxes are issued in Cook County.
1. The first installment property tax bill is 55% of the prior year’s total property taxes.
By now, property owners in Cook County should have received their first installment property tax bill in the mail. The first installment tax bill is always 55% of the prior year’s total property taxes. If a homeowner has not received their bill in the mail, they can obtain a copy online. As a reminder, the first installment tax bill for the 2021 tax year is due March 1, 2022. Please watch this short video that explains the first installment tax bill and offers a thorough breakdown of how to understand each section.
2. Property tax-saving exemptions are only applied to the second installment property tax bill.
If you are wondering why your exemptions are not listed on your first installment tax bill this is because savings are only applied and listed on the second installment tax bill. Second installment tax bills are mailed in the summer. Please see the example below of what a second installment tax bill looks like and where exemption savings are listed.
3. Exemption applications will be available in early March.
For first-time applicants, the 2021 tax year exemption filing period will begin in early March 2022. Homeowners are encouraged to file online. To learn more about property tax exemptions and eligibility, visit cookcountyassessor.com/exemptions. In response to COVID-19, the Cook County Assessor’s Office will continue the automatic renewal of the Senior Freeze, Veterans with Disabilities, and Persons with Disabilities Exemptions; the Homeowner and Senior Exemptions will continue to auto-renew every year.
If a homeowner received any of these five exemptions last year (tax year 2020), they do not need to reapply this year (tax year 2021).
To verify which exemptions were received last year, homeowners can visit the Cook County Property Tax Portal at cookcountypropertyinfo.com, enter their PIN and look under the exemption tab.
Find Additional Resources Here
Watch video: Understanding your tax bill
Download Guide: A guide to property taxes
Download Document: Understand the first installment property tax bill
Download Guide: A guide to property tax savings
