When Are Property Taxes Due in Illinois?
Navigate Illinois property tax deadlines and payment methods. Learn how to stay compliant and avoid common pitfalls for homeowners.
Property taxes in Illinois are a primary source of funding for various local government services, including public education, police and fire protection, and infrastructure maintenance. These taxes are essential for community operation and the quality of local amenities. Understanding the payment schedule and available methods helps homeowners manage their financial responsibilities effectively.
Illinois Property Tax Due Dates
Property tax payments in Illinois are collected in two installments, though specific due dates vary by county. Most counties set their first installment due date around June 1 and the second around September 1. In counties with an accelerated billing method, such as Cook County, the first installment is often due by March 1. This initial payment in accelerated counties is an estimated bill, representing 55% of the prior year’s total tax.
Tax bills are mailed in May for most counties. If bills are mailed later than May 1, the first installment due date adjusts to 30 days after the mailing date. The second installment accounts for the balance of taxes due, calculated by subtracting the first payment from the total assessed amount. Homeowners should consult their property tax bill or county treasurer’s website for precise due dates.
Methods for Property Tax Payment
Homeowners in Illinois have several convenient options for submitting their property tax payments. Online portals are widely available through county treasurer websites, allowing payments via e-check directly from a checking or savings account, often without an additional fee. Alternatively, online payments can be made using credit or debit cards, though these transactions typically incur a convenience fee charged by a third-party processor, usually ranging from 1.5% to 2.35% of the payment amount. When paying online, it is important to ensure the transaction is completed within any specified time limits and to obtain a confirmation number or receipt.
Payments can also be submitted by mail using a check or money order, with the payment coupon included from the tax bill. It is important to ensure the payment is postmarked on or before the due date to avoid delinquency. For those who prefer in-person transactions, payments can often be made at the county treasurer’s office or at designated local banks within the county. Many homeowners also pay their property taxes through a mortgage escrow account, where their lender collects a portion of the tax alongside the monthly mortgage payment and remits it directly to the county.
Late Payment Penalties and Consequences
Failing to pay property taxes by the established due date results in penalties, primarily interest charges. In counties with 3,000,000 or more inhabitants (e.g., Cook County), the monthly interest rate on unpaid balances is 0.75%, or 9% annually. In counties with fewer than 3,000,000 inhabitants, the interest rate for delinquent property taxes is 1.5% per month, or 18% annually. Interest accrues for each month, or portion thereof, that the payment remains outstanding.
Continued non-payment can lead to a tax lien on the property. This lien represents the county’s claim for unpaid taxes and takes priority over other debts. If taxes remain unpaid, the county can sell this tax lien at a public auction (tax sale) to recover delinquent amounts. After the tax sale, the property owner enters a “redemption period,” typically 24 to 30 months, during which they can pay delinquent taxes, accumulated interest, and penalties to redeem the property and prevent loss of ownership. If the property is not redeemed within this timeframe, the tax lien buyer can petition the court to obtain a tax deed, which transfers legal ownership to the buyer. Homeowners facing difficulties should contact their county treasurer’s office promptly to discuss options.