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What is the Senior Citizens Real Estate Tax Deferral Program?

The Senior Citizens Real Estate Tax Deferral Program provides tax relief for qualified senior citizens by allowing them to defer all or part of their property tax and special assessment payments on their principal residences.

The deferral is similar to a loan against the property's market value. Deferred amounts are borrowed from the State who then pays the tax bill to the County Collector's Office. Interest on the amounts paid by the State accumulates and a lien is placed on the property for all deferred tax payments and interest. (320 ILCS 30/1 et. seq.) Note that for tax years 2022 and prior, interest continues to accrue at the rate of six percent per year. For tax year 2023 and any tax year thereafter, interest accrues at the rate of 3% per year.

To qualify for this progam, you must:

  • be 65 years of age or older prior to June 1 of the year that the application is being filed with the County Collector's Office;
  • have a total yearly household income of no more than $65,000.00;
  • have owned and occupied the property or other qualifying residence for at least the last three years;
  • own the property, or share joint ownership with your spouse, or be the sole beneficiary, or you and your spouse be the sole beneficiaries of an Illinois land trust;
  • have no unpaid property taxes and special assessments on the property; and
  • have adequate insurance against fire or casualty loss.

To enter the program, contact your County Collector's Office to receive an application. Once you have completed the application, you must file it with the Collector's Office on or before March 1 of each year that you wish to defer your property taxes or special assessments

For general questions about the program, contact your County Collector's Office. For information concerning account payoffs, email the Illinois Department of Revenue at Rev.LocalTax@illinois.gov.

 

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If you have additional inquiries, you may submit them on the Questions, Comments, or Requests form.