•February 22, 2023•
The Illinois Department of Revenue (IDOR) is reminding senior citizens about the availability of 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. Seniors needing assistance paying their property taxes have until March 1, 2023 to apply for the program.
The program, which works like a loan, allows qualified seniors to defer a maximum of $7,500 per tax year (including both first and second installment payments), increased from $5,000 last year. Deferred amounts are borrowed from the state, who pays the tax bill to the County Collector’s Office. The program was also expanded this year to increase the household income threshold qualification from $55,000 to $65,000.     Login or Subscribe to read the rest of this story.