The Senior Citizens Real Estate Tax Deferral Program is a loan provided by the State of Illinois for qualified senior citizens.
The program will loan up to $7,500.00 for property taxes, with a 3% interest rate on an annual basis. A lien is placed on the property and the loan does not become due until death or the property is sold.
To qualify for the tax deferral, you must:
- Be 65 years of age or older.
- Have a total household income of $65,000.00 or less.
- Have equity in the property.
- Have no unpaid property taxes or foreclosures on the property.
- Have homeowner's insurance with coverage against fire and casualty.
- The program is available for owner occupied, primary residences only.
Applications are available by clicking the link below. Applications must be received in the McHenry County Treasurer's Office by March 1, 2024. THERE ARE NO EXTENSIONS.
For more information on the program open this BROCHURE link.
The program is currently closed and will reopen after the new year.