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
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
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,
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
Note: The filing deadline for the program is March 1 of the tax
year. Applications are available from the Lake County Treasurer
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.
Illinois Dept. of Revenue
P.O. Box 19003
Springfield, IL 62794-9003