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COOK COUNTY 2nd INSTALLMENT TAX BILLS DELAYED

The streak is over. Closing lawyers and owners who do not escrow for property taxes celebrate.

We are often asked - when will Cook County 2nd installment property tax bills come out?

For most of my career, the best answer was a shrug of the shoulders and a warm smile. None of us knew. Mail-out dates were erratic. Theoretically due out July 1st billing. Rarely that early. Erratic. Unpredictable. August? Maybe. September? As late as November - once, anyway. Your guess as good as mine.

But for nine years running tax bills were released online in late June (often the 30th). Due August 1st or there-abouts. Consistency is to be appreciated in most contexts, but especially stressful for closing lawyers and title company escrow officers. Unpaid taxes are allocated between buyers and sellers at closing and June 30th is one of our busiest days in the business. Tax bills data released early in the morning mean last minute revised computations, revised closing statements, further lender reviews and approvals. These changes force disruptions and delays. Already busy closing schedules were often blown to pieces.

So it was with great dread and foreboding of the potential for an even more stressful day yesterday that I checked in on the County Treasurer's web site before retiring on the 29th. Again, as soon as I fired up the computer on the 30th. Now and again throughout the day. Nada. Zilch. Nothing.

The tax proration can is kicked down the road. Perhaps next month? We'll see.

More info here. https://bit.ly/3h9mnSx

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