Agent: It’s Finally Happening
After a 4 month delay, Cook County will finally be releasing the 2021 tax bills early December with a target day of December 1. Taxes will be due by December 30, 2022.
To find your bill, visit here and type in your Property Identification Number (PIN). Once your property overview pops up, click "Download Your Property Bill".
Property owners can pay their taxes online at the treasurer's website or in person at Chase Banks. If you escrow taxes with your mortgage, you will not need to make an additional payment.
What does this mean?
(a) IF you have a deal closing between now and 12/31 and you are representing the seller and your seller's lender pays the RE taxes, make sure your seller has the bank HALT the escrow so there isn't a double payment. The title company will require that payment to made at closing and you do not want the mortgage company to make a double payment;
(b) It's tax reproration season! If you had a deal close that had a tax reproration, now is a great time to reach out to that client and remind them. Great value add!
(c) If you are in the midst of a closing, the "next full ascertainable tax bill" is now available! This means that tax prorations are changing for your closing. Make sure everyone is aware so there aren't any last minute surprises.
When the Cook County 2nd installment bill comes out, it's always stressful. But, strategically, you can use it as an opportunity to be a value add to your past and current clients!
Open for Business
Worried that your attorney will be gone for the Holidays? Don't worry! The David Frank Law Group will be open during both Thanksgiving week and the week between Christmas and New Year's. If you need an attorney for your transaction during the Holidays, look no further. We are open for business and ready to guide you!