Friday, August 10, 2018 || By Michael Romain || @maywoodnews
Cook County Treasurer Maria Pappas recently refunded $19.5 million to roughly 53,000 homeowners in Cook County due to a new state law that increased the amount of property tax exemptions for some people, the treasurer’s office announced in a statement released last week.
In the statement, Pappas noted that “36,000 homeowners who earlier this year paid by check or online will receive a credit to their bank or credit card accounts” by Aug. 15.
Another 15,000 homeowners “who paid through a bank/mortgage escrow account” will get a refund check in the mail by Oct. 15.
And 2,000 homeowners who paid their taxes in cash will get a refund application in the mail by Aug. 15 “to ensure the proper party receives the refund.”
Pappas said that letters were sent to all homeowners entitled to refunds on Aug. 9. Anyone who wants to see if he or she is entitled to a refund can visit cookcountytreasurer.com and do the following:
- Select the purple box “Your Property Overview”
- Enter your address or Property Index Number (PIN)
Pappas explained that the refunds are due to legislation that took effect on Aug. 1 that increased already existing tax exemptions for some homeowners, particularly senior citizens.
“For thousands of homeowners, the exemptions not only eliminated any balance due August 1,” she said, “but also created refunds for payments earlier this year.”
According to Pappas’ office, the average savings for suburban homeowners for the second installment 2017 tax year (for taxes due Aug. 1) was $1,202 — an increase of $306 from last year. The average senior citizen exemption increased to $961, or $321 more than last year.
The new law, the treasurer explained, increased the amount of household income eligible for the exemptions — from up to $55,000 under the old law to up to $65,000 under the the most recent law. VFP
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