Cook County is publishing and mailing out the 2025 tax year second installment bills. These are expected to be due for payment by October 1st. Since we pay real estate taxes in Cook County during the subsequent year, pay attention – for several reasons:
1. Have a mortgage? Check to see if you have a real estate tax and insurance escrow. You may be paying into that escrow monthly, and the real estate taxes are probably going to be paid directly from the escrow account. Check with your mortgage company.
2. No mortgage? Once you receive your real estate tax bill from the county, look it over carefully. Check to be sure that it’s for your property, and check to see the amount, the due date and any other notations on the tax bill that may signify that there are other issues you should pay attention to. See whether the exemptions to which you expect to be entitled for the 2025 real estate tax year are identified and included. Also check to be sure that the amount due gives credit for the first installment payment, if you made that payment previously.
3. Recently purchased your property? Check with your attorney to see if there were any accommodations made at the closing for real estate taxes that were held back, or that were credited to you, and whether there was a reproration agreement made between the parties at the time of closing.
4. Exemptions you believe should be applied are not included? If that is the case, talk to your attorney about a review of your real estate tax bill and how to update the exemptions to which you are entitled and how to check prior years to make sure you received credit for the exemptions that should have shown on your bill.
5. Real estate taxes seem unusually high for the 2025 year? Talk with your attorney to see if there is an opportunity to request a review of the assessed valuation for your property or if there’s a problem with the tax rate or other issues that may affect your tax bill.
If you don’t have a real estate attorney, reach out and make a relationship. You may only check in every so often, but the value of having a good real estate attorney on your team cannot be overstated. Let us know if the staff at Marc D. Sherman & Colleagues PC can assist you.
Reach out for our contact information here: https://mshermanlaw.com/contact/
