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"path": "/money/2026/06/09/cook-county-property-tax-bills-delay-preckwinkle",
"publishedAt": "2026-06-09T21:50:38.743Z",
"site": "https://chicago.suntimes.com",
"textContent": "<p>Property tax bills usually sent out in July will once again be delayed, according to Cook County Board President Toni Preckwinkle. </p><p>Preckwinkle, who announced the two-month delay Tuesday, said she intends to reopen a no-interest loan program for government bodies that rely on the property tax revenue they now won't get on time. </p><p>Suburban tax districts, such as schools and libraries, that would otherwise need to take out pricey short-term loans to cover their budgets can instead borrow from the county's $300 million Property Tax Bridge Fund Program, Preckwinkle said.</p><p>That program mirrors one put in place last year when tax bills were <a class=\"Link\" href=\"https://chicago.suntimes.com/news/2025/11/07/cook-county-property-tax-bills-due-dec-15-after-several-months-delay\" target=\"_blank\" >delayed four months</a> due to a computer issue.</p><p>Chicago Public Schools, however, would not be eligible for that loan program.</p><p>That could be a problem for CPS, which last year paid <a class=\"Link\" href=\"https://chicago.suntimes.com/education/2025/12/19/property-tax-payment-delay-costs-chicago-public-schools-almost-a-quarter-million-dollars-a-day\" target=\"_blank\" ><u>$220,000 in interest per day on short-term loans</u></a> it took out to make payroll.</p><p>CPS officials said last year's tax bill delay has forced them to take out at least $1.6 billion in short-term loans for operating expenses and another $246 million loan to keep its teachers pension fund solvent — making for $33 million in interest payments down the line.</p><p>CPS didn’t immediately respond to a request for comment.</p><p> </p><p>The loan program is needed, Preckwinle said, because tax bill delays can cost different bodies massive amounts of money, specifically when they take out short-term loans. Preckwinkle said more details would come out next month when she anticipates the Cook County board will pass the measure.</p><p>“We are announcing this now because local governments need time to plan,” Preckwinkle said in a statement. “This bridge fund gives schools, libraries, parks, fire districts and other local governments a short-term tool to keep serving residents while we continue the deeper work of fixing a fragmented property tax system.”</p><div class=\"RelatedList Enhancement\" data-module data-align-center> <div class=\"RelatedList-title\">Related</div> <ul class=\"RelatedList-items\"> <li class=\"RelatedList-items-item\"> <a class=\"Link\" href=\"https://chicago.suntimes.com/education/2025/12/19/property-tax-payment-delay-costs-chicago-public-schools-almost-a-quarter-million-dollars-a-day\" >Property tax payment delay costs CPS almost a quarter million dollars a day</a> </li> <li class=\"RelatedList-items-item\"> <a class=\"Link\" href=\"https://chicago.suntimes.com/real-estate/2026/05/31/illinois-lawmakers-legislation-homeowners-equity-property-taxes-debt-tax-foreclosure\" >Illinois lawmakers pass bill to help homeowners catch up with property taxes before losing their homes</a> </li> </ul> </div> <p>Preckwinkle pointed to the delay as further need for tax reform in a year that has seen some modifications to tax laws, including legislative <a class=\"Link\" href=\"https://chicago.suntimes.com/real-estate/2026/05/31/illinois-lawmakers-legislation-homeowners-equity-property-taxes-debt-tax-foreclosure\" target=\"_blank\" ><u>changes to property tax sales</u></a>.</p><p>But the delay last year was just the tip of the iceberg.</p><p>Over the last 30 years, the property tax levy outpaced inflation and grew “<a class=\"Link\" href=\"https://chicago.suntimes.com/news/2026/03/30/property-taxes-cook-county-treasurer-study\" target=\"_blank\" ><u>well above wage growth</u></a>,” according to a recent <a class=\"Link\" href=\"https://www.cookcountytreasurer.com/skyrocketingpropertytaxes.aspx\" target=\"_blank\" ><u>report</u></a> from the Cook County treasurer’s office. The county’s property tax levy increased from $6.8 billion in 1995 to $19.2 billion in 2024. That's $10 billion more than if it had just kept pace with inflation.</p><p>Schools countywide, which account for about half of the total tax bill, also have seen tax demands skyrocket 189%, or $6.9 billion.</p><p>Some, including <a class=\"Link\" href=\"https://chicago.suntimes.com/elections/2026/03/21/cook-county-assessor-fritz-kaegi-lyons-township-dan-hynes-democratic-primary-property-tax-increase-factor\" target=\"_blank\" ><u>former Cook County Assessor James Houlihan</u></a>, have called for an overhaul of the system on a much larger scale. He has suggested weaning public schools off the current funding method, in which they rely solely on property tax revenue.</p><div class=\"RelatedList Enhancement\" data-module data-align-center> <div class=\"RelatedList-title\">Related</div> <ul class=\"RelatedList-items\"> <li class=\"RelatedList-items-item\"> <a class=\"Link\" href=\"https://chicago.suntimes.com/elections/2026/03/21/cook-county-assessor-fritz-kaegi-lyons-township-dan-hynes-democratic-primary-property-tax-increase-factor\" >Cook County Assessor Fritz Kaegi lost big where property taxes in city, suburbs soared</a> </li> <li class=\"RelatedList-items-item\"> <a class=\"Link\" href=\"https://chicago.suntimes.com/news/2026/03/30/property-taxes-cook-county-treasurer-study\" >Property taxes, driven by TIF districts and school funds, outpace inflation and wages: county treasurer study</a> </li> </ul> </div> <p></p>",
"title": "Cook County property tax bills delayed again — this time by 2 months",
"updatedAt": "2026-06-09T22:58:35.797Z"
}