Kane County waives penalty for late property tax payments
In response to the COVID-19 pandemic, the Kane County Board, at the request of Treasurer David Rickert, unanimously passed a resolution granting a 30-day waiver of interest penalty for the first installment of property taxes.
The grace period applies only to the first installment of property taxes for 2019, payable in the 2020 tax year. The first installment, which is due on June 1, will be accepted without late penalty interest if payment is made on or before July 1. Payment of the first installment after July 1 will incur all accrued penalties starting at 3%.
The cost to the county of $124,000 in lost revenue can be offset with funds currently available in the county's Property Tax Freeze Protection Fund.