2021 Property Tax Bills: March 1, 2022 was the deadline for payment of 2021 first installment property taxes. State statute dictates that first installment bills be 55% of the previous year’s total property taxes, making the first installment an estimated partial payment. Taxpayers often mistakenly believe the first installment bill to be 55% of the current year’s property taxes.
Local tax rates are calculated by the Cook County Clerk after all assessed values in Cook County have been certified by the Cook County Assessor and Cook County Board of Review. Second installment property tax bills are calculated using two factors which vary each year; the local tax rate and the state equalization rate (multiplier). The assessed value changes every three years unless the taxpayer effects a change through the appeals process each year. Riverside Township was reassessed in 2020; the city of Chicago was reassessed in 2021 and these values are still going through appeals and certifications.
This year the appeal periods and the certifications resulting from those appeal periods are drastically behind schedule. This is due to various reasons including; IT system updates by the Cook County Assessor, Chicago’s reassessment in 2021 and COVID shutdowns at the Assessor’s office.
A comparison of the property tax schedules between the last year the City of Chicago was reassessed and this year:
| Status of Township Appeal Periods on
January 31, 2019 |
Status of Township Appeal Periods on
January 31, 2022 |
| The Cook County Assessor issued appeal results in all thirty suburban townships. | The Cook County Assessor issued appeal results in fourteen of thirty suburban townships. |
| The County Assessor had issued appeal results in all eight Chicago townships that were being reassessed. | The County Assessor issued appeal results in one of eight Chicago townships that are being reassessed. |
| The Cook County Board of Review had opened and closed all thirty suburban townships. | The Cook County Board of Review has opened eleven of thirty suburban townships. |
| The Board of Review had opened and closed all eight Chicago Townships. | The Board of Review opened NO Chicago townships. |
What is the impact? Second installment tax bills will almost certainly be late. The problem with issuing a delayed second installment property tax bill is that it could force some taxing districts to borrow money while waiting for tax payments. We will keep our taxpayers up to date on developments as the appeal period and property tax year progresses.
2021 Exemptions: Exemptions always appear on second installment bills. The Assessor’s office is renewing most exemptions automatically due to COVID again this year. Watch for postcards and letters in the mail from the Cook County Assessor’s Office due out very soon. Taxpayers who are applying for any exemption for the first time will find online applications and downloadable applications on the Cook County Assessor’s office website: www.cookcountyassessor.com. The Riverside Township Assessor is available to provide assistance to taxpayers who would like help with the application of their exemptions. Their office is open Monday – Friday, from 9:00 am until 2:00 pm.
2022 Appeal Session: The Cook County Assessor determines the beginning of the appeal periods each year. Due to the delay of last year’s session, there is also a delay in this year’s session. At this time, there has been no word as to when the 2022 appeal period will begin. If you would like to be added to the Township Assessor’s contact list for future updates, call their office at (708) 447-7700 to be added to their list, or send an email to: [email protected].
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