The Illinois Department of Revenue highlighted 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. The program, which works like a loan, allows qualified seniors to defer a maximum of $5,000 per tax year (including both first and second installment payments).

“I encourage all eligible seniors who need help in paying their property taxes to look into this program as the March 1 deadline is quickly approaching,” IDOR Director David Harris said. To qualify for the Senior Citizens Real Estate Tax Deferral Program, a property owner 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 annual household income of no more than $55,000, 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 a spouse, or be the sole beneficiary, or the property owner and spouse be the sole beneficiaries of an Illinois land trust, have no unpaid property taxes and special assessments on the property, have insurance against fire or casualty loss.

For questions concerning the program, taxpayers may visit IDOR’s website at tax.illinois.gov or contact Maura Kownacki at 312-814-1777.