Bill > HB2753

This bill amends the Property Tax Code for counties with 3,000,000 or more inhabitants that use an accelerated tax billing method. Specifically, if the first tax installment bill is not mailed by January 31, the bill modifies the delinquency and interest accrual dates for tax payments. Under the new provisions, if the first installment bill is late, the first installment will be considered delinquent and start accruing interest after April 1 (instead of the previous March 1), and the second installment will be considered delinquent and start accruing interest after September 1 (instead of the previous August 1). The bill maintains the existing interest rates, which are 1.5% per month for tax years before 2023 and 0.75% per month for tax year 2023 and beyond. These changes aim to provide some flexibility in tax payment deadlines when county tax billing is delayed, potentially offering taxpayers in large counties more time to pay their property taxes without immediate penalty.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2753&GAID=18&DocTypeID=HB&SessionID=114&GA=104