Chicago New Construction- Property Taxes

2 Replies | Chicago, Illinois

Hello Bigger Pockets,

I just completed construction on a 2-flat which was built on an empty lot.  The August 1st property tax bill reflects the empty lot.  Is there anything I need to do to inform the county of the new property?  Or just enjoy the low taxes until their next assessment?  If so, is there a mechanism for them to attempt to claw back taxes?  

Thank you!

@Mario Rosado - the August tax bill is for last year.  We pay taxes in arrears.  So if the project was completed in 2018 it will reflect on the 2018 assessment- which is payable in 2019