Illinois lets senior citizens defer up to $7,500 a year in property taxes
Illinois offers senior citizens a property tax relief program that works like a loan.
The Senior Citizens Real Estate Tax Deferral Program allows qualifying seniors to defer or postpone the payment of up to $7,500 a year in property taxes.
The loan is repaid to the state when the property is sold or within a year after the death of the participant or within 90 days after a homeowner no longer qualifies for the benefit…