February 8, 2024
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Interest penalties slashed from 18% to 9% for homeowners who are late paying property tax bills
Historic reforms championed by Cook County Treasurer Maria Pappas are about to take effect as property owners face a March 1 due date for 2023 First Installment tax bills. For those who are late paying their taxes due March 1, the interest rate penalty will drop from 18% a year to 9% a year. The monthly rate of interest charged on late taxes will fall from 1.5% to 0.75.