Latres Singleton, like many other homeowners in the south and southwest suburbs, is going to struggle to pay her property taxes after historic increases this season.
“I’m considering ending up selling and moving over into Indiana, because this is ridiculous,” said Singleton, whose taxes almost doubled to $5,900 from last year’s $3,100.
She said she believes an expected increase in her mortgage payment will make homeownership in Calumet City even more difficult to manage.
With property tax bill payments due Aug. 1, some Cook County residents have been left wondering what to do if they are unable to pay on time.
While any late payments are charged a monthly interest rate of 0.75%, or 9% a year, county Treasurer Maria Pappas said her office accepts partial payments and encourages them for homeowners who are feeling overwhelmed by this year’s especially high bills.
“This option may be more manageable for homeowners and small businesses to pay over several months,” she said.
Pappas said the late payment interest rate was cut in half effective this year with the hopes of providing some relief to those struggling to skate by. Median tax bills in 15 south suburbs, 13 of which have mostly Black populations, rose by 30% or more.
“These increases are hitting households with senior citizens and others who did not budget for such large increases and who do not have the full amount on hand to pay their tax bill,” Pappas said in a news release. “Distraught homeowners are under the impression that if they don’t pay their tax bill by Aug. 1 that they will lose their home, and that’s not the case.”
Cook County Assessor Fritz Kaegi said homeowners should also check if they qualify for any exemptions available to them and, if their home may have been wrongly assessed, file an appeal
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. More information about the property tax payment options is available on the Cook County treasurer’s website.“The homeowners exemption would, in most south suburban communities, would completely eliminate whatever property tax increase the typical person had,” Kaegi said Thursday.
Kaegi, who has been appearing in different communities throughout Cook County to answer questions about the tax system, acknowledged these options may not bring much comfort to those who, like Singleton, are unsure if they can afford to keep their homes. He said the assessor’s office is working to continue to advocate for system reforms at the state level.
“They feel the injustice of the system that has always been broken and is affecting them in such a dramatic way,” Kaegi said.