2021 Will County Property TAX payment changes
2021 Will County Property Tax payment changes
The purpose of my communication is to inform you of the County Board action approving real estate tax payment relief for 2021, and inform you of potential corresponding delays in distributions.
At their meeting on January 21, 2021, the Will County Board approved the same real estate tax payment relief as last year. That action, as allowed by State statutes, allowed payers to delay 50% of each installment 60 days. So half of first installments (25% of annual total) were due on June 3rd; and half was due by August 3rd; half of the second installment was due Sept. 3rd; and half was due Nov. 3rd.
In 2020, our first installment dollars collected were 98.5% of the prior year same period. But taxpayers were holding standard bills with two payment coupons with the original due dates of June and September. So our distributions to you were not far off from what was expected.
Since the County board acted in early this year, and we have plenty of notice, we will design the tax bills accordingly and provide FOUR payment coupons. Due dates are June 3; August 3; September 3; and November 3. It is very difficult to predict how tax payers will behave but we should assume that more will take advantage of the extended payment due dates—especially in light of the redesigned bills. Our early indication from experts at Gov-Tech (payment portal) is that the big companies, including mortgage servicers holding escrow accounts, will take advantage of the four dates.
The relief approved by the County Board applies to the 2021 collection period only. However, the statute exists for such relief, and so the Board may take up the matter in future years. Without specific action from the Board, my intention is to return to the traditional June 1 and September 1 due dates in 2022.
As in years past there will be ten distributions beginning May 20, 2021. However, the tax sale date has been moved to January so the final distribution date is on January 27th, 2022. Interim distribution dates include: June 17; July 15; August 12; September 9; October 7; November 4; December 2; and December 30.