The County Board voted Tuesday (April 14, 2020) to waive the interest payment for the first installment of your property taxes due June 1.
Kane County Treasurer David Rickert said he recommended the action “in response to the unprecedented health crisis currently facing Illinois residents due to the COVID-19 global pandemic.”
The board unanimously passed the resolution, which grants a 30-day waiver of interest penalty for the first installment of property taxes.
“This will help ease the burden and assist taxpayers in need during this health crisis,” Rickert said.
Rickert said the action is expected to cost the county about $124,000 in lost revenue, but Rickert said there would be no cost to taxpayers because the county can draw monies available in the Property Tax Freeze Protection Fund.
The grace period applies only to the first installment of property taxes for the 2019, payable in the 2020, tax year. The first installment, due on June 1, 2020, will be accepted without late penalty interest if payment is made on or before July 1, 2020.
Payment of the first installment after July 1, 2020, will incur all accrued penalties.
SOURCE: Kane County Treasurer’s Office news release