Senior Citizen Tax Programs and Exemptions

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Senior Real Estate Tax Forum in Romeoville August 28

• The Senior Citizen Exemption reduces the assessed value of your property by $4,000 and is available for a residence owned and occupied by a person 65 or older during the tax year. If you qualify and have not received this exemption, call the Supervisor of Assessments at (815) 740-4648.
• The Senior Citizens Assessment Freeze Exemption Qualified senior citizens can apply for a freeze of the assessed value of their property. Applicant must be 65 or older; have a total household income of $55,000 or less; must be the owner of record; and use the property as their principal residence. Contact the Supervisor of Assessments at (815) 740-4648 for additional information and/or an application form.
• A Senior Citizens Tax Deferral Program  The household income limit to participate in this program has increased to $50,000.  This program works like a loan from the State of Illinois to qualified senior citizens, with an annual interest rate of 6%.  Any portion or all of the tax may be deferred until the house is sold or until the death of the taxpayer. For information call the Treasurer's Office at (815) 740-4675 or download the IL-1017 and IL-1018 forms below.

          (Both the IL-1017 and IL-1018 forms must be completed and sent to the Treasurer's Office)

        IL-1017 Application for Deferral of Real Estate/Special Assessment Taxes
        IL-1018 Real Estate/Special Assessment Tax Deferral and Recovery Agreement

        For more information, please see the document Senior Citizens Real Estate Tax Deferral Program produced by the Illinois Department of Revenue.
 

• The Illinois Circuit Breaker, a state program, gives a grant based on income to renters and homeowners 65 and over who have a household income of the following:

                  $22,793 yourself

                  $30,594 yourself and your spouse

                  $38,393 yourself, your spouse and additional residents.

Contact the State toll free at 1-800-624-2459.