Tax Savings Programs

Senior Citizens Real Estate Tax Deferral Program

This program is designed to allow senior citizens to defer payment of part or all of the property taxes on their homes. This program functions as a loan, with an annual interest rate of six percent. To qualify for this deferral, you must:

• Own the property, which must be used exclusively as a residence. Please note that joint ownership under this program is limited to you and your spouse.

• Have lived on this or another qualifying property for at least three years, except for periods in which you may have resided temporarily in a nursing or sheltered care home.

• Be age 65 or older by June 1 of the tax year.

• Have a maximum household income of $40,000.

• Owe no delinquent taxes on the property.

NOTE: The filing deadline for the program is March 1 of the tax year. Applications are available from the Lake County Treasurer (847.377.2323).

Senior Citizens Circuit Breaker Grants

This program provides low-income senior citizens with yearly grants to help pay property taxes and pharmaceutical expenses. The amount of the grant is determined by a formula that takes into account your property taxes and your total household income. To qualify for a "circuit breaker" grant, you must:

• Be age 65 or older before January 1 of the tax year: If you reach age 65 during the tax year, you may be eligible for a partial grant covering the months in which you qualify.

• Have lived in an Illinois residence that was subject to property taxes during the tax year.

• Live in Illinois at the time you file for a grant.

• Obtain an application from the Township Assessor's office and complete and file it on or before December 31 of the tax year with the Illinois Department of Revenue.