How to Prepay Your Property Tax Bill

Real Estate Taxes

How to Prepay Your Property Tax Bill

Mark Weil, Wealth Advisor

November 29, 2017

Pending tax reform legislation includes provisions that would significantly limit or eliminate the itemized deduction for property taxes. If such legislation passes, it may make sense to prepay property taxes (those that would be due next year) before December 31, 2017. For more details, please see our article on year-end tax strategies.

Outlined below is information on prepaying property taxes due in 2018 for Lake and Cook counties in Illinois. As always, please consult your tax advisor to see if this makes sense for you. If you live elsewhere, try searching online for “how to prepay {name of county / state} real estate taxes,” or give us a call.

Lake County, Illinois

How much can you prepay?

Up to the amount you paid in 2017 (2016 tax bill), but no more.

How do you prepay?

Write a check to Lake County Treasurer, and mail to the address below.

 Lake County Treasurer
18 N County Street, Room 102
Waukegan, IL 60085

To reach the Lake County Treasurer by phone: 847-377-2323

You should write “prepayment” and your Property Index Number (PIN) on the check. If you don’t know your PIN or can’t locate it, you can search for it here.

When to prepay by?

Payment must arrive at the Treasurer’s office between 12/01/2017 and 12/29/2017. No postmarks are accepted.

What to expect in the spring?

In the spring of 2018, you will receive a bill from Lake County for the amount you owe (it will state the entire amount and not reflect any prepayments). Approximately 10 days later you will receive a letter reflecting what you already have paid.

Cook County of Illinois

How much can you prepay?

Cook County residents need to request a bill that will tell them how much can be prepaid.  It should be the same as the 2016 second installment.

How do you request your bill?

In order to receive the previously mentioned bill you will need to follow the steps below:

  1. Go to the Contact Us by Email page on the Cook County Treasurer’s website.
  2. Choose “Prepayment Program” from the drop-down menu.
  3. Click on the “EMAIL US” link.
  4. You will be taken to a Contact Us form. Please fill this form out and press submit. (If you don’t know your PIN or can’t locate it, you can search for it here.)
  5. Submitting this form will generate a bill that will be mailed to you (as mentioned earlier). The bills are expected to be mailed by 12/07/2017.

How do you prepay?

Cook County gives you three ways to pay your bill:

  1. At a local Chase branch
  2. Online
  3. By mail at the address below:

Cook County Treasurer
PO Box 805438
Chicago, IL 60680-4116

When to prepay by?

Payment must be submitted no later than 12/29/2017. If you are mailing a check to the Cook County Treasurer’s office, they will accept the postmark of 12/29/2017.

We hope you find this information helpful and we welcome the opportunity to answer any questions you may have.

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