Senior Property Tax Deferral Program March 1st Deadline Approaching

Under the Senior Citizen Tax Deferral Program, offered through the Cook County Treasurer’s Office, qualifying seniors can defer payment of their property taxes until their homes are sold.

To qualify, seniors must have annual household income of less than $50,000, have equity in their homes that exceeds the sum of property taxes deferred, and have lived in their homes for three years. March 1 is the deadline annually for deferral applications.

The tax deferral program is essentially a loan from the state for property taxes that must be repaid with annual interest of 6% when the house is sold. To ensure that the money is repaid, a lien is placed on the senior’s home that will prevent the home from being sold without full repayment. 

For more information and assistance regarding this program, contact the Cook County Treasurer’s Office at 312-603-6202. The North Shore Senior Center at 847 784-6000 also offers assistance with applications by appointment.