Update #9 – For Lake & McHenry County Illinois Residents
Lake County (As of May 12, 2020) – Property Tax Deferral Among Several Measures Approved by Lake County Board
In recognition of the financial hardship that many Lake County taxpayers are experiencing in light of the COVID-19 pandemic, the County Board enacted an ordinance that allows taxpayers to spread their property tax payments over four installments, instead of the usual two installments. If the second half of the payment is made by the second due date, no late fees will be incurred.
The payments were originally due on June 8 and Sept. 8. Under the ordinance, property owners must still pay the full amount of taxes due, but may spread them over four payments on the schedule outlined below without incurring any interest penalties for late payments:
- 50% of the first installment payment is due by June 8, 2020
- 50% of the first installment payment is due by Aug. 7, 2020
- 50% of the second installment payment is due by Sept. 8, 2020
- 50% of the second installment payment is due by Nov. 9, 2020
The Lake County Treasurer’s Office will be sending notice of the deferred payment plan to Lake County property owners through the mail. Lake County property owners will receive this notification in approximately two weeks.
McHenry County Board members voted unanimously to approve an ordinance waiving late fees and interest accruement for the first installment of this year’s property taxes for a period of 90 days.
With the passing of this bill, county residents may now pay property taxes anytime before Sept. 15, 90 days after the original deadline of June 15, without penalty.
However, the ordinance only applies to businesses and homeowners who pay their property taxes directly to the county, according to the resolution.
If you have further questions on documentation, please contact our team. We will post questions on our social media feeds and in our upcoming briefs.