What Lake Co. residents need to know about their tax bills

Lake County property owners should receive 2009 tax bills next week.

The Lake County treasurer's office will mail the statements Monday or Tuesday. Payments are due in two installments, on June 3 and Sept. 3.

Most everyone is worried about their finances these days, and tax bills certainly won't ease those concerns.

Here are some questions you may have about the property-tax process and the bills, with answers courtesy of the treasurer's office.

Q. When will I receive my property-tax bill?

A. Probably by the end of next week. If you don't receive a bill by May 16, call the treasurer's office at (847) 377-2323 or visit lakecountyil.gov/treasurer.

Q. My house is worth a lot less than it used to be. Why aren't my taxes lower, too?

A. The assessments for this year's bills were calculated in January 2008 and were based on real-estate transactions made between 2005 and 2007. They don't reflect the housing market's drop of the last year or so. Additionally, some agencies increased tax rates in the past year, and those changes could be reflected in your bill. Unless government agencies reduce spending, property tax bills will remain at current levels.

Q. How much money will be collected in taxes this year, and how does that compare to last year?

A. About $2 billion in taxes is scheduled to be collected. That's up from about $1.9 billion in 2008. The number of properties being taxed increased as well, from 261,614 to 264,310.

Q: How do I pay my tax bill?

A: You can pay by mail, in person at the treasurer's office or at most Lake County banks. You can also use a credit card to pay online or over the phone.

Q. I can't afford to pay my bill in full. Can I make a partial payment?

A. Yes. Partial payments can be made by mail or at the treasurer's office, 18 N. County St., Waukegan. If a balance remains after the due date, interest may be assessed on the unpaid portion.

Q: My mortgage company pays my taxes. Why did I get a bill?

A: Many mortgage companies pay electronically and do not require a bill. Contact your mortgage company to confirm this. Regardless, a bill is mailed to you for your records.

Q. Will I get a second bill when my second installment is due?

A. No. It's up to you to remember to pay the bill.

Q. What's the penalty for not paying a bill on time?

A. The county adds 1.5-percent interest per month for taxes paid after the due dates.

Q: I own multiple properties in Lake County. Can I pay with one check?

A: Yes, but make sure your math is correct. Also, list the parcel numbers of all the properties on your check and include the correct coupons for each payment.

Q. I have more questions. What should I do?

A. Call the treasurer's office or visit the office's Web site. It includes information about taxes, assessments, billing, tax sales, making payments and many other related topics.

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