Congratulations on the purchase of your new property. We have put together some important information to help first time or new property owners understand property taxes.
Illinois bills property tax a year in arrears, for example, taxes for the calendar year 2018 are billed and payable in 2019. The tax amount due in 2019 is based on the property value and tax exemptions for the owner of the property on January 1, 2018.
You become the owner of record as soon as the County records the deed. The current owner of record is ultimately responsible for payment of all future real estate taxes. The County records are updated with new owner information continuously except for a brief period around mid-April when we are creating the tax bills. This period usually lasts from one to two weeks.
If you have closed on your property during this time period, it is best to contact our office to obtain a tax bill.
Will County will use the “Mail Tax Bills To” name and address listed on the recorded deed to update our records. This address will be used for mailing of the following documents:
- Tax bills
- Assessment notices
- Legal notices of delinquent or unpaid taxes
- Legal notices of court actions to acquire properties by tax deeds
We highly discourage using a bank address for the “Mail Tax Bills To” on your deed, unless they are the trustee of a trust as they will receive all of these documents.
Tax bills are mailed on May 1st of each year and are due in two installments. The first is due on June 1 and the second is due on September 1 of each year, unless these dates fall on a weekend, then the due date will be the next business day.
If you do not receive your bill, please call our office at 815-740-4675 and we will mail you a duplicate bill.
When calling our office it is recommended you have your Permanent Index Number (PIN) on hand. This is the easiest way for our staff to look up your taxes. Every property has it’s own unique 16-digit PIN to identify the property, (ex: 07-01-01-400-099-0000). You can find this number on your tax bill above the name and address or on the recorded deed, your title insurance paper work, or your closing documents.
Currently, County records are not searchable by property address unless the tax bill is mailed to that address.
It is important to remember if payment is made after the due dates, an interest penalty of 1.5% per month will be added. If mailing your payment we do accept a post mark on or before the due date for on-time payment. The Treasurer must follow the Illinois State Statutes and does not have the authority to waive an interest penalty regardless of the circumstance.
Your closing statement may include a credit from the seller for estimated unbilled and unpaid taxes. The exact amount is not available until the actual tax bill is calculated in April of the year the tax is due. In most cases the new owner will receive the next tax bill and will pay the seller’s unpaid taxes.
If you have an escrow with your mortgage company, we suggest you contact them to see if they require a copy of the bill sent to them.
We recommend you contact your mortgage company to make sure they have the correct information and will be making payment from your escrow.
If you have purchased property that will require a division or consolidation of parcels and your deed is recorded after December 31, 2018, you will not receive a tax bill in your name with a new PIN number until 2021. The original owner will receive the tax bill on the original parcel. Owners should determine who is responsible for payment at the time of closing.
Below are links you may find helpful: