Du Page County, IL Sr. Citizens Real Estate
Tax Deferral Announced for 2012
Information/Applications Now Available
Through March 1, 2012
Du Page County in IL, like many other counties, offers many helpful forms of assistance to the senior residents living within its borders. One such program, is the Senior Citizens' Real Estate Tax Deferral Program.
Each year from January 1st to March 1st, Du Page County opens application for participation in this beneficial program. The program assists its senior residents by allowing them to defer the property tax payment on their principal residence. The deferment of a tax payment is similar to a loan against the senior's property market value . Deferrals are borrowed from the State of Illinois, which in turn pays the current property tax when due. The State of Illinois ensures repayment of the deferred amount through a 6% simple interest rate "loan". A lien is also filed on the residential property. Special Assessments taxes levied by your village or their water and sewer district may also be deferred.
To qualify, Du Page County senior residents must fit the following qualifications:
- The residential property must be their primary residence and used exclusively for residential purposes.
- The senior resident(s) household combined income cannot exceed $50,000 annually.
- Senior must be 65 years of age or older by June 1st, of the year for which the application is made.
- Senior must have resided in deferred tax property for minimum of the last 3 years.
- Senior must have NO delinquencies of payment on their property taxes.
- Senior must have NO special assessments on said property.
- Senior resident/said property must carry current and adequate Fire and Casualty Insurance.
- Senior must Own the property, share joint ownership with a spouse, be the sole beneficiary of said property, or be the sole beneficiaries of a land trust for said property.
Application forms (Form IL 1017 and IL 1018) for participation in this year's Du Page County Senior Citizen Real Estate Tax Deferral Program will automatically be mailed on January 9th to those senior residents that took part last year.
For new senior participants, the following information/documentation must be provided at the time the completed application is submitted:
- Social Security Number
- Proof of property ownership
- Copy of current Homeowner's Insurance Declaration page
- Proof of age
- Other qualifying information
To receive or download an application, you can call the Du Page County Treasurer's office at: 630.407.5900 or visit its website at: http://www.dupageco.org/treasurer. Additional information or questions may be addressed through either contact, as well.
Completed application forms can be returned by mail, or dropped-off in person, at the Du Page County Treasurer's office located at: Du Page County Treasurer, 421 No. County Farm Road, Wheaton, Illinois, 60187.
Please note that the applicant's signature must be notarized. Notaries are available at the Du Page County Treasurer's office, Monday through Friday, from 8:30 am to 4 pm each day for its residents' convenience.
* For those looking to buy or refinance a home in Du Page County, or the surrounding Chicagoland area, please contact me. I have 35+ years of mortgage lending experience and expertise with which to assist you. I've love the chance to earn your business and your trust.
I can be contacted through any of the following means:
Direct: 815.277.4036
Email: gene@chicagobancorp.com
Website: www.genemundt.com/Contact-Me.html
Skype: 630.219.1316
Click here: 4 a NO Cost NO Obligation Mortgage Consultation
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Now on Skype! 630-219-1316
