Hoffman Estates calls for timely tax bills

Hoffman Estates Mayor William McLeod and other suburban leaders are calling for local taxing bodies to rally together in an attempt to motivate Cook County officials to send out property tax bills on time.

Cook County officials have warned the second half of this year's tax bill will be late, possibly arriving in mailboxes after January 2011.

McLeod, during Monday's village board meeting, spoke about the lack of any law requiring county officials to mail out tax bills by a deadline.

"I can't believe there's no mandatory date to get things done," McLeod said.

County officials said the delay stems from listening to property tax objections, which require a hearing. The most recent bills began arriving in late January and are due on March 2. A new state law requires at least 55 percent of a property tax bill to be paid on time.

"Every other county is able to do it in a timely fashion," McLeod said.

McLeod attended a meeting Monday morning at the Schaumburg Township office where the topic was addressed. Representatives from the village of Schaumburg and other taxing bodies, including local park and school districts joined him, as did Elk Grove Township officials.

Hoffman Estates Village Manager James Norris explained how late bills would affect the village and taxpayers.

Residents have to pay first and second installments in rapid succession.

Taxing bodies are forced to ask for tax-anticipation warrants - a short-term loan that is paid back once the municipality receives the actual tax money.

Tax-anticipation warrants also affect taxpayers, because money that could have been spent on services is instead spent paying interest to a bank, said Norris, who called the practice "an unfunded liability."

Residents who expect a deduction on their itemized income tax returns also have to wait and won't have the full deduction available to them.

Issuing tax-anticipation warrants became a regular practice during The Great Depression.