This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property Document With Tax In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00123
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Recent Trends in Tangible Personal Property Taxation State2006 Personal Property2017 Personal Property California 4.11% 5.20% Colorado 12.06% 6.90% Connecticut 6.09% 13.28% Florida 7.43% 7.00%29 more rows •
The current tax bill can be obtained from the Cook County Treasurer's Office. Tax bills for previous years are handled by the Cook County Clerk's Office. The Treasurer's phone number is (312) 443-5100 and the County Clerk's phone number is (312) 603-5656.
It's also worth noting that many states, but not Illinois, tax “personal property” like cars, boats and business equipment. The 1970 Illinois constitution banned personal property taxes.
The property or parcel number is available on your property tax or real estate tax bill.
This annual exemption is available for property that is occupied as a residence by a person 65 years of age or older who is liable for paying real estate taxes on the property and is an owner of record of the property or has a legal or equitable interest therein as evidenced by a written instrument, except for a ...
By law, the First-Installment Property Tax Bill is exactly 55% percent of the previous year's total tax amount. The Second-Installment Property Tax Bill is mailed and due in late summer; it reflects new tax rates, levies, assessments and any dollars saved by exemptions for which you have qualified and applied.
Where to Report Personal Property on Your Taxes. Claim the itemized deduction on Schedule A – State and local personal property taxes (Line 5c). Taxes you deduct elsewhere on your return — like for a home office or rental — don't qualify for this deduction.
If you end up paying personal property taxes to your local government, the IRS allows you to claim a deduction for it on your federal tax return.
It's also worth noting that many states, but not Illinois, tax “personal property” like cars, boats and business equipment. The 1970 Illinois constitution banned personal property taxes.
More info
This tax is imposed on the retail purchase of tangible personal property titled or registered with the State of Illinois to an address located in Cook County. Forms and Tax Bill Requests.Property tax exemptions are savings that contribute to lowering a homeowner's property tax bill. The most common is the Homeowner Exemption. Complete Form PTAX-203-B, Illinois Real Estate Transfer Declaration Supplemental Form B. 11 Full actual consideration. The Portal consolidates information and delivers Cook County taxpayers a one-stop customer service website. Duplicate or Overpayment Refund. The Cook County property tax system is complex. It involves the Assessor's Office, the Board of Review, the Cook County Clerk, and the Cook County Treasurer. One portion (51.65 percent) goes to taxing districts in Cook County.