$19.5M In Property Tax Refunds Going to 53K Cook Co. Homeowners

COOK COUNTY, IL — Around 53,000 homeowners will receive property tax refunds from Cook County, and in most cases, they will be able to pocket the extra money without additional paperwork, the treasurer's office announced Friday. The county will be doling out about $19.5 million in refunds connected to changes in the state's property tax exemptions that went into effect Aug. 1, according to Cook County Treasurer Maria Pappas.

Last year, the Illinois General Assembly passed a bill that increased tax exemptions for homeowners and senior citizens. Not only do the new exemptions erase property tax balances for thousands of homeowners, but they create refunds for county residents who made payments earlier this year.

Under the new legislation, Chicago residents saw a $226 increase in the homeowner exemption from last year, creating a total average savings of $727. For suburban Cook County residents, that exemption was raised by $306 from last year for a total average savings of $1,202.

The new senior citizen exemption for Chicago residents jumped to $224 and created a total average savings of $581. Suburban Cook County seniors saw an even larger exemption from last year — $321 — and a total average savings of $961.

County residents should receive a letter with details about the refunds by Aug. 9, the treasurer's office said. Homeowners and seniors also can go to the Cook County treasurer's website to see if they will be receiving refunds. Once on the site, residents can select the purple "Your Property Overview" box and enter either an address or a Property Index Number to find refund information.

Refunds will be distributed to residents in the following ways:

• About 36,000 homeowners who paid their property taxes by check or online earlier this year will have their bank or credit card accounts credited by Aug. 15.
• Around 15,000 homeowners who paid through a bank or mortgage escrow account will be mailed their refund by Oct. 15.
• About 2,000 homeowners who used cash to pay their taxes will be mailed a refund application by Aug. 15 so that the money goes to the right individual.

Go to the website for the Cook County treasurer for more information.

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