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 h...