Senior Citizen Real Estate Tax Deferral





Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type



The benefit permits eligible persons to defer payment of all or part of their real estate taxes or special assessment on a principal residence up to 80% of equity. The state pays the taxes and files a lien on the property to ensure repayment. The deferral must be repaid, plus 6% annual interest, within one year of the property owner's death or 90 days after the property no longer qualifies. The total amount of taxes deferred by a taxpayer per year may not exceed $5,000.

How is Benefit Disbursed


Eligible Property Type


Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria



Income Ceiling

Principal Residence

Other Criteria

Description of Eligibility Criteria

An eligible individual must be 65 years of age or older by June 1 of year for which deferral is claimed, they must own the property and it must be the principal residence for the last three years except for periods where the taxpayer may have resided in a nursing home or sheltered care home. The property must be one that is not subject to a lien for unpaid real property taxes and not held in trust when filing for the first time. An individual’s household income can be no greater than $55,000.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

Local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

The state pays the property taxes and then recovers the money when the property is sold or transferred.

Record ID



Property held in trust, other than an Illinois land trust with the taxpayer identified as the sole beneficiary, is ineligible for this program when filing for the first time. Deferral amount is capped at $5,000 per taxpayer per year.


320 Ill. Comp. Stat. § 30/1 ~ § 30/8 (in effect for 2015)
Illinois Department of Revenue, Property Tax Relief - Homestead Exemptions [ Accessed on 05/28/2015] View Archived Source

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