DuPage County in Illinois, like many other counties, offers many helpful forms of assistance to the
senior residents living within its borders. One such program, is the DuPage County Senior Citizen Real Estate Tax Deferral Program.
Each year from January 1st to March 1st, the 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, who 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, DuPage 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 1, 2011.
- 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 DuPage County Senior Citizen Real Estate Tax Deferral Program have automatically been mailed 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 DuPage 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 DuPage County Treasurer's office located at: DuPage 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 DuPage County Treasurer's office, Monday through Friday, from 8:30 am to 4 pm each day for its residents' convenience.
* For information regarding Reverse Mortgages, regular residential and small property lending, and Financial Planning, please Contact: Gene Mundt, Mortgage Banker at Chicago Bancorp, Cell/Text: 708.921.6331, Email: gene@chicagobancorp.com. Thank you!
Gene Mundt, Sr. Vice President
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The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
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