601 Deerfield Road | Deerfield, IL 60015 | Phone: 847.945.3020 | Fax: 847.945.3051 | Email: wdassessor@lakecountyil.gov

Tax Savings Programs

 Duties of the Assessor  Ι  Tax Savings Programs  Ι  Exemptions  Ι  Assessment Appeals Ι  Major Taxing Bodies

 

Tax Savings Programs

Senior Citizens Real Estate Tax Deferral Program

The Senior Citizens Real Estate Deferral Act (320 ILCS 30/1 et seq.) allows qualified senior citizens to elect to defer all or part of the property taxes and special assessments on their principal residences.

 

The principal residence is the homestead portion of the property and is the only portion of the property for which you can apply for deferral of taxes.

 

The property taxes and special assessments do not become due until after the death of the property owner or when the real estate is sold or no longer qualifies.

 

A lien is placed on the property and interest is assessed at 6% simple interest rate per year.

 

Who is eligible?

 

To qualify for the tax deferral you must:

  • be 65 years of age or older by June 1 of the tax year,

  • have a total household income of no more than $55,000,

  • have lived in the property or other qualifying property for at least the last three years,

  • own the property, or share joint ownership with your spouse, or you and your spouse must be the sole beneficiaries of an Illinois land trust,

  • have adequate insurance against fire or casualty loss, and

  • have no unpaid property taxes and special assessments 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).

Benefit Access Program (formerly Circuit Breaker)

Qualified seniors and disabled citizens that qualify can receive help with transit rides and license plate discounts.

 

For qualification information you should contact the Illinois Department of Revenue.

 

Circuit Breaker

Illinois Dept. of Revenue

P.O. Box 19003

Springfield, IL 62794-9003

 

Phone: 800.624.2459

TDD: 800.554.5304

 

Website Address: http://www.state.il.us/aging

 


West Deerfield Township

601 Deerfield Road | Deerfield, IL 60015 | 847.945.3020