Romeoville, IL– To ensure that seniors are getting the property tax relief that the law entitles, senior homeowners over the age of 65 are encouraged to take advantage of the Senior Citizens Real Estate Tax Deferral Program.
“While rising property taxes are a burden on all homeowners, those on a fixed income can find them especially difficult to pay,” said state Rep. Natalie Manley. “Providing payment flexibility to our seniors and giving them additional time to pay their taxes can provide much-needed relief for many in our community. The Senior Citizens Real Estate Tax Deferral Program is a vital tool in ensuring our seniors aren’t getting overwhelmed by rising costs and fees, and I highly encourage residents to take advantage of this program.”
The Illinois Department of Revenue’s (IDOR) 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, please visit the website of the Will County Treasurer’s Office at willcounty.gov/County-Offices/Finance-and-Revenue/Treasurer-Office/Senior-Citizen-Tax-Deferral-Program.
“With the many rising costs that seniors have to keep up with, whether it’s utility bills, prescription drugs, or groceries, the last thing they need is to choose between paying their taxes or paying for their other basic needs,” said Manley. “Whether it’s through providing tax relief or other means, we must ensure that our seniors are able to enjoy their later years and not have to constantly worry about how they’re going to pay their bills.”
