Deadline is Friday for Senior Property Tax Deferral Program

To ensure that seniors are getting the property tax relief that the law entitles them to, state Rep. Natalie Manley encourages homeowners over the age of 65 to take advantage of the Senior Citizens Real Estate Tax Deferral Program in a recent press release.

The Illinois Department of Revenue’s Senior Citizens Real Estate Tax Deferral Program allows homeowners ages 65 and over to defer all or part of their property tax and special assessment payments on their principal residence. The program allows qualified property owners to defer up to $7,500 per tax year, which will be paid back upon the sale or transfer of the property or within a year of the taxpayer’s death.

A 3 % yearly interest rate is charged on the deferral amount. To qualify for the program, the taxpayer must be 65 years old or over, have a total annual household income of no more than $65,000 and have lived in the property for at least the last three years, among other qualifications.

The deadline to apply for the program is Friday, March 1. For more information or assistance filing the application, visit the website of the Will County Treasurer’s Office at willcounty.gov/County-Offices/Finance-andRevenue/Treasurer-Office/Senior-Citizen-Tax-Deferral-Program.