Taxpayer News - December, 2008
Hope this Holiday Season and the New Year bring you Good Health, Happiness and Peace on Earth.
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| Important Reminder To Taxpayers |
| Prepayment of 2008 Property Taxes:
Interested taxpayers can make prepayment of their 2008 property taxes between December 15 thru December 31, 2008. It is strongly recommended that you check with your accountant or preparer of your income tax to be sure that this will be a benefit to you. If you proceed with this payment, the check should be made payable to the Lake County Treasurer and the amount of the check can not exceed the total amount paid in the 2007 tax year.
Senior Citizens Tax Deferral Application Deadline set for February 27, 2009
Senior Citizens Tax Deferral program is a State of Illinois program that is managed by the County Treasurer's Office. It is a state loan that acually pays your county property tax at a 6% simple interest rate.
A lien is placed on the property and repayment takes place upon death or sale of the home. The owner must be at least 65 years old as of June 1st of the tax year claimed and a household income of $50,000.00 or less. The property cannot be income producing, such as a rental. You must provide proof of current house insurance and property taxes must be current at the time of application.
Those that have a current mortgage, second mortgage or reverse mortgage, must check with their lending institution to qualify.
A new application if needed each year. |
| Interesting Facts About The 1st Installment Collection |
| Total extension for the 2007 tax year is $1,925,601,453.16
As of December 18, 2008:
- $1,920,399,540.96 collected and distributed
- 99.7299% percent of extension
Reason for difference from total extension vs. total collected and distributed are error's in assessments, changes made by the Board of Review or by the State of Illinois.
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| Calendar of Events for the 2008 tax cycle: |
Currently all township assessment cards have been mailed out by the Chief County Assesssors Office. As of December 18th at 5:00 pm, filing deadlines for all townships were offically closed. Hearing will be scheduled through-out the first part of the year.
All taxing bodies will soon be setting their 2009 budgets, which will play a key role in your tax rate.
Even though there has been a large increase in appeals, it is still our goal to get the 2008 tax bills (payable in 2009) out the first week in May with installments due June 3rd and September 3rd, 2009. |
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Please contact our office with any questions or comments. We can be reached at 847.377.2323 or by email at treasurer@lakecountyil.gov. |
