Illinois has a few great options aimed directly at helping senior homeowners living within its boundaries.
One of those beneficial options, called the Senior Citizen Real Estate Property Tax Deferral Program, allows property tax relief to Illinois residential property owners 65 and over. In order to be eligible for this particular program, a senior must own property within the State of Illinois and have an income under $50,000 for the tax year.
This property tax deferral program allows individuals that fall within that perameter the opportunity to defer 1% to 100% of their property taxes at 6% simple interest. This deferrment may be taken until the sale of the property or the death of the taxpayer.
Application must be made before March 1st through the State of Illinois's Senior Citizen Real Estate Property Tax Deferral Program.
Information regarding this program can be obtained through the Will County Treasurer's (Pat McGuire) Office located within the Will County Office Building at 302 No. Chicago Street, Joliet, Illinois.
Applications and info may also be obtained by calling the Treasurer's office at: 815.740.4691 or visiting their website at: www.willcountytreasurer.com. Downloadable applications and informational brochures are available within the website and found under the lefthand menu at Senior Citizens.
The Treasurer and his entire office is asking all Will County residents to help a friend, a family member, or a neighbor to be aware of this tax deferral program and all programs available to Will County senior homeowners ... and to step-up and assist those seniors in taking advantage of them, if need be.
Gene Mundt, Sr. Vice President
Personal NMLS #216987
The Federal Savings Bank
1823 Centre Point Circle, Naperville, IL 60563
Skype! 630-219-1316
Gene, What supportive information for seniors and their families and friends. I have seen this offered by other states as well so anyone reading this outside of the great state of Illinois (my birthplace you remember, right?) should see if their state has the same program. Kate
Kate: Most definitely ... although this was specific to Illinois, I'm sure that our state is not alone in their efforts to assist their seniors. I should have added that as a tag at the end ... you are right. Hopefully they read comments. As usual Kate, you've added value to a post!
Gene
This is great new to the seniors that are struggling, they can catch up when they sell their homes, or when their families do.
Gene, it's great that various states offer some type of relief to Seniors. California has several program, too. You've reminded me that it's time I re-post info about them. Thanks!
I'm so glad Illinois does that for their seniors. Here, seniors' property taxes get reduced by half. But then, when there's a budget shortfall, guess which of the so-called 'tax-giveaways' is the first one to get taken back? Makes me feel ill.
Terri: Exactly right ... and something that agents and lenders need to ask about and be aware of when dealing with seniors or their estates. Good Point, Terri!
Lottie: Your welcome ... and glad that my post served as a reminder! Both my wife's and my parents were older parents when they had families ... so we've run across many senior issues ahead of our counterparts. Many of our friends are now facing elder parents needs now and caregiving is becoming more an integral part of their lives. Helping everyone become more aware of these issues benefits seniors ... and who deserves it more? Thanks for stopping by ...
Joetta: I think you're absolutely right ... each state typically has something to offer their seniors. It's up to us to educate ourselves regarding our own region's details. Seniors should not suffer and their programs shouldn't be used as political fodder ... so right!
Gene
Gene ~ thanks for sharing this valuable tax news for seniors.
I tweeted your post.