Hinz: Cook County property tax bills will likely be 6 months late. Whose fault is that?
A verbal political brawl has broken out over who will wear the jacket for a huge delay in issuing second-half Cook County property tax bills, a lag that could push payments that normally are due on Aug. 1 past New Year's.
The main participants are Cook County Assessor Fritz Kaegi and Larry Rogers, chairman of the Board of Review, which hears appeals of Kaegi's proposed assessments.
But lots of other officials are watching because delays in receiving roughly $16 billion in second-half bills will force local governments to instead either issue tax-anticipation notes, costing them interest charges, or draw down cash reserves.
Any delay would be a mixed blessing for property owners. While they'll get to pay their second-half bills later than usual, next year's first-half bill could arrive just a few weeks later, squeezing those who haven't set aside the needed funds.