The Chicago skyline, viewed from Navy Pier, Chicago Buildings and Landmarks – Chicago 23-09-2018 . … [+]
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The economic impact of Covid has had such far reaching implications that even real estate taxes have started to have some relief provided. So far only 16 states have either extended the filing deadline or waived interest or fees and penalties for a specified amount of time. Other states are coming on board and some already have payment plan policies in place that residents can apply for. Here are the 16 states, though be warned even though most of them have a state-wide Covid relief policy some of them left it up to counties to administer so there are a few places with different policies depending where you live.
There is such a wide variety in housing markets on the list. From one of the highest-priced (Connecticut) to one of the lowest (Mississippi). There is a chart of how individual states have responded if you want to compare different policies. No state has offered to reduce property taxes, but a number of them are making it easier for people who are in financial hardship by reducing the interest that would normally be applied to missed payments. Mississippi, for example, has suspended the accrual of interest on outstanding liabilities as well as new assessments. Indiana, on the other hand, has waived penalties for 60 days. Also, even if your state isn’t listed here they may have payment plans already in place that you can apply for to help mitigate the financial burden.