(WBBM NEWSRADIO) — County Board President Toni Preckwinkle said that for decades, property tax bills were almost never on time.
When she took office, though, Preckwinkle promised to remedy that.
She said for the last decade, the bills have always gone out on time. Due to the pandemic and an ongoing upgrade of the County’s technology systems, though, Preckwinkle said property tax bills will be going out about four months late in 2022.
Preckwinkle assured Cook County residents that the bills will go out — and be due — before the end of the calendar year, which means taxpayers should still get the proper state and federal deductions.
Later tax collections, though, will mean delayed revenue for municipalities and taxing districts.
Olyvia Jamoszka, who manages the county’s debt, said local governments will be able to share in up to $500 million in interest-free loans to tide them over.
She said there may be as many as 500 taxing bodies eligible, but county officials don't expect all to apply.
“To help the taxing bodies most affected by delayed contributions, we’re here today to announce that Cook County is providing a one-time, no-interest loan program to provide short-term operational cash flow to non-City of Chicago jurisdictions,” Preckwinkle said.
Disadvantaged areas will get the most help, officials said.
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