The Senior Citizen Real Property Deferral program is a tax-relief program that works like a loan.  It allows qualified seniors to defer all or part of their taxes and special assessments on their primary homes.  The loan from the state is paid when the property is sold, or transferred to an heir.

Who Qualifies?

Participants must be:

• Homeowners who are at least 65 years of age by June 1 of the year in which the application is made.
• Those whose household income is $50,000 or less.
• Surviving spouses of previously approved applicants who are at least 55 years of age within six months of the taxpayer's death.
• Those who have owned and occupied the property or other qualifying property for at least the last three years.
• Those who have fire or casualty insurance.
• Those who do not owe outstanding property tax or special assessments.
• Those who have written approval from the spouse, if filing jointly, or trustee if the property is held in a qualifying trust, to participate in the program.

How do I Apply?

• Applications are available at the Cook County Treasurer’s Office after January 1, through the March 1 application deadline.
• Fill out an application, answering all questions and providing required documents.
• You are required to return your application to the Cook County Treasurer's Office no later than March 1.
• You must apply each year you want to participate.

How Much Will it Cost?

• 6% simple interest per year payable at the time the home is transferred to a new owner or, if the participant pays off the senior-deferral loan before then.

How Much Tax Can be Deferred?

• You may defer up to 100% of property taxes and up to 80% of your equity interest in the home.

What if There is a Mortgage?

• Lender ’s approval is not necessary for qualified applicants.
• You may want to check with your lender if there is a reverse mortgage on the property.

What If I Change my Mind?

• The program is flexible.  A homeowner may withdraw, keep the loan, pay off the loan and/or re-enter the following year.

REMINDER: Last day to file is March 1 of the year the taxes otherwise would be paid.