The Peoria County Treasurer is please to announce a new real estate prepayment program for taxes payable in 2018. All prior years’ taxes must be current to participate in this program.
The acceptance period is from Friday, December 15, through Friday, December 29, 2017. All prepayments must be received in the office by that date. Payments received after close of business at 5:00 p.m. on December 29 will be returned whether postmarked or not.
Prepayments must be between 100% and 105% of the 2016 tax amount. It may only be paid by cash or check in a single transaction. Credit card payments will not be accepted. Cash payments exceeding $10,000 will be subject to IRS form 8300. Prepayments must have the parcel number on the check and be noted as prepaid taxes.
The prepayment will be applied to the tax amount due once the 2017 tax bills have been mailed, which is usually around the beginning of May. Any shortage will have to be paid by the first installment due date. If the prepayment submitted is greater than the amount determined to be owed, the Treasurer will refund the excess as soon as practical.