•February 23, 2022•
The Illinois Department of Revenue has highlighted 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 1st to apply for the program.
The program, which works like a loan, allows qualified seniors to defer a maximum of $5,000 per tax year (including both first and second installment payments). Deferred amounts are borrowed from the State of Illinois, who pays the tax bill to the County Collector’s Office.     Login or Subscribe to read the rest of this story.