The Illinois Department of Revenue (IDOR) is reminding senior homeowners of the Senior Citizens Real Estate Tax Deferral Program.
The new law amends the Senior Citizens Real Estate Tax Deferral Act, introducing two major enhancements effective in tax year 2026 and beyond:
Starting in tax year 2026:
• The maximum household income for eligibility will increase from $65,000 to $75,000 in 2026, then to $77,000 in 2027, and to $79,000 beginning in 2028 and thereafter.
• County clerks may now offer payment plans during the redemption period for county-held tax certificates. When payments are made in accordance with the plan, interest and penalties may be waived for the program.
To qualify for the Senior Tax Deferral Program, homeowners must meet the following criteria:
• be 65 years of age or older by June 1 of the filing year,
• own and occupy the primary residence for a minimum of three years,
• have no outstanding property taxes or special assessments on the property, and
• maintain adequate fire or casualty insurance.
Eligible seniors may defer up to $7,500 per year, including interest and fees, or as much as 80 percent of the equity in their home, whichever is lower.
The deadline to apply for the 2025 Senior Tax Deferral Program is March 1, 2026.
To apply, seniors must contact their local county collector’s office to receive an application. For general questions concerning the program, taxpayers may visit IDOR’s website at tax.illinois.gov or contact their local county collector’s office.
https://mytax.illinois.gov/
Arlington Heights, IL – Certified Public Accountants