Illinois Department of Revenue reminds senior citizens of Real Estate Tax Deferral
The Illinois Department of Revenue is reminding senior citizens about the availability of the Senior Citizens Real Estate Tax Deferral Program which allows qualified seniors to defer all or part of their property taxes and special assessment payments on their principal residences. Seniors needing assistance paying their property taxes have until March 1, 2023 to apply for the program.
The program, which works like a loan, allows qualified seniors to defer a maximum of $7,500 per tax year. Deferred amounts are borrowed from the state, who pays the tax bill to the County Collector’s Office. The program was also expanded this year to increase the household income threshold qualification up to $65,000.
For more information, contact your local County Collector’s Office or visit tax.illinois.gov