Condo owners in Chicago are now receiving their 2nd installment 2016 property tax bills. Payment is due August 1, 2017.

Note that the 1st installment is issued for an amount equal to 55% of your total prior year tax bill. Once the Cook County Treasurer's office has calculated your final total tax bill, the 2nd installment is sent reflecting the total less the amount billed in the 1st installment.

Tax rates and property valuation assessments for Chicago property owners have increased, so many condo owners will be seeing an increase in their final bill. For more information about the effects of this year's property tax changes, see this article by our friends at Elliott and Associates.

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