Cook County offers loans after latest tax bill delays
(The Center Square) – The latest delay in property tax billing by Cook County is expected to cost local governments.
Cook County Board President Toni Preckwinkle said the next round of tax bills would be about two months late.
Preckwinkle said the county’s property tax bridge fund was reintroduced at Thursday’s board meeting to help local governments deal with the resulting gap in cash flow.
“The program will make available up to $300 million in no-interest loans to eligible taxing districts,” Preckwinkle said.
Oak Lawn Mayor Terry Vorderer said the county property tax provides about $5 million to his village’s $80 million budget.
“While it has an impact, it isn’t going to put us out of business,” Vorderer told The Center Square.
Vorderer said the bridge loan helped Oak Lawn during a previous tax payment delay.
This is the third time Cook County has offered the program in response to delays in the property tax cycle.
Chicago Alderman Brendan Reilly said previous delays have been costly.
“Local taxing bodies like suburban school districts and municipalities are going to be waiting months for revenues they need for operations. They had to go out and take payday-style gap loans to keep the lights on and that’s costing school districts over $120 million in interest,” Reilly told The Center Square.
Reilly said Cook County’s $30 million deal with Tyler Technologies to upgrade the tax billing system is a failure.
“And now 11 years later and millions in cost overruns later, we see these tax bills coming out months late,” Reilly told The Center Square.
Legislation requiring the county to reimburse taxing districts for interest lost and debts incurred did not advance during the General Assembly’s spring session.
House Bill 5241, filed by state Rep. Anthony DeLuca, D-Chicago Heights, and Senate Bill 3638, filed by state Sen. Kimberly Lightford, D-Maywood, did not move out of committee before the legislature adjourned on June 1.
Partly Sunny
Latest News Stories
Will County Hears Proposal to Establish County-Focused Land Bank for Distressed Properties
Lincoln-Way West Rallies to Edge Lincoln-Way Central in 10-8 Victory
Sandburg Edges Lincoln-Way West in Tight Conference Duel
EXCLUSIVE: The Oversight Project calls for investigation into Fusus, Oak Brook contract
Will County Executive Committee Recommends 600 MW Pride of the Prairie Solar Project in 6-5 Split Vote
Aging Systems and Judicial Mandates Drive Significant FY2027 Budget Requests for Will County Courts and Sheriff
Meeting Summary and Briefs: Will County Planning and Zoning Commission for May 5, 2026
Debate grows over bill on gender, abortion care access in child placement
Lawsuit: D300 secretly gender transitioned student; Seeks to nix IL gender ‘guidance,’ too
IL biometric privacy suits say tech companies used broadcasters’ work to train AI
Illinois Quick Hits: Report shows 8% of Cook County offenders on electronic monitoring AWOL
GOP congressional candidate calls single-stream recycling a ‘sham’
Meeting Summary and Briefs: Will County Board Public Works & Transportation Committee for May 5, 2026
Will County Legislative Committee: Pushes Forward with Ban on Cryptocurrency Kiosks