Tax Pre-Payments Accepted In Lake County

LAKE COUNTY, IL —Lake County property owners can make a prepayment for the 2017 tax year to the Lake County Treasurer’s Office through Dec. 29, 2017. This could benefit property owners when filing for 2017 income taxes.

Due to the high interest in the prepayment program, changes to the process have been made to make it easier for taxpayers to submit a prepayment. This includes accepting online bill payments made through a bank's online pay service, and mailed prepayments that are postmarked by Dec. 29, 2017, will now be accepted.

The IRS Wednesday issued some guidance about pre-paying and deductions:

The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances.

The IRS has received a number of questions from the tax community concerning the deductibility of prepaid real property taxes. In general, whether a taxpayer is allowed a deduction for the prepayment of state or local real property taxes in 2017 depends on whether the taxpayer makes the payment in 2017 and the real property taxes are assessed prior to 2018. A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017. State or local law determines whether and when a property tax is assessed, which is generally when the taxpayer becomes liable for the property tax imposed.

Learn more about the prepayment process:

Requirements/General Information

• Prepayments will be accepted until Dec. 29, 2017.
• The maximum amount the Treasurer's Office can accept is no more than the total taxes due in 2017. Lesser amounts are accepted.
• Checks should be made payable to the Lake County Treasurer.
• Please write the property PIN# and "2017 Prepayment" on your check.
• It is recommended to consult with an accountant or another tax professional before making a prepayment.

How To Submit A Prepayment

Mail - Checks can be mailed to the Lake County Treasurer's Office, Room 102, Waukegan, IL 60085. Mailed checks must be postmarked by Dec. 29, 2017. Do not use the envelopes sent with property tax bills, as they will be directed to the Treasurer's Office P.O. box in Bedford Park, IL, which will delay delivery. *Note* - Due to the large number of mailed prepayments the Treasurer's Office has received, it is not possible to confirm receipt of mailed-in prepayments.

In person - Prepayments can be brought to the Lake County Treasurer's Office, 18 N. County St., Waukegan. Prepayments may also be left in the drop box outside the the north entrance of the Lake County Building, 18 N. County St., Waukegan. The box will be emptied regularly.

Online through bank - Online bill payments made through your bank's online bill pay service are now accepted.

Due to the high volume of prepayments the Treasurer's Office is receiving, it is likely that longer than normal processing times will be encountered when making payments and receiving receipts.
If you have any questions about prepayments, or any other topic regarding your property taxes, contact the Treasurer's Office 847-377-2323, or visit www.lakecountyil.gov/treasurer.

Submitted by the Lake County Treasurer's Office

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