Property Tax Postponement Information | LAKE COUNTY TREASURER'S OFFICE - Senior Citizen Tax Deferral Program
Allows seniors to defer part or all the property taxes on their personal residence up to $7,500 annually. The following principles apply: - This is a state loan with a 3% simple interest rate - Repayment upon death or sale of home - A lien will be placed on the property - The program may be utilized for multiple years, if qualifications are met - Participants may apply for other senior tax programs in addition to the deferral program
Date of Last Formal Update
05/06/2024
Data provided by
Lake County 211
Physical Address
18 North County Street, Waukegan, IL 60085
Hours
Service Hours Monday: 8:30 AM - 5:00 PM Tuesday: 8:30 AM - 5:00 PM Wednesday: 8:30 AM - 5:00 PM Thursday: 8:30 AM - 5:00 PM Friday: 8:30 AM - 5:00 PM
Application process
Visit the website to download the application. Completed applications must be notarized and mailed by March 1. New applications must be filed for each tax year. Documents required: - Proof of Residence - Proof of Age - Copy of Title
Eligibility
To be eligible, individuals must: - Be 65 years of age or older; - Total household income must be $65,000 or less; - Own and occupy the residence, or other qualifying property in Illinois for the last 3 years (except for any period individuals may have temporarily resided in a licensed nursing home). - Property cannot be income producing (e.g. rental income). - Property taxes must be current at the time of application. - The cumulative value cannot exceed 80% of any loans or liens on the property. - Those that have a current mortgage, 2nd mortgage or reverse mortgage must check with their lending institution to see if they qualify
Languages
Spanish
Service area
Lake County, IL
Agency info
LAKE COUNTY TREASURERS OFFICE
Provides service and information regarding monetary questions and programs