Illinois State House District 35 issued the following announcement on Jan. 30.
To help provide local seniors property tax relief, state Rep. Fran Hurley, is encouraging homeowners over the age of 65 with an annual household income of $55,000 or less to apply to the Senior Citizen Real Estate Tax Deferral Program to help cover the cost of property tax payments.
“As property taxes continue to skyrocket each and every year, the sad reality is that some seniors simply cannot afford to stay in their homes,” said Hurley. “I have continually worked for property tax relief, especially for senior homeowners, many of whom live on a fixed income. No senior should have to choose between staying in their home and paying for their prescriptions or groceries.”
To help cover the cost of Cook County property tax payments, Hurley is encouraging senior homeowners to visit cookcountytreasurer.com and submit an application for the Senior Citizen Real Estate Tax Deferral Program. The State of Illinois issues the loans, which do not have to be repaid until the property is sold or the homeowner dies. An interest rate of 6% per year is charged by the state. To qualify for a yearly loan of up to $5,000, the homeowner’s annual income must be under $55,000 per year and they must be 65 by June 1 of the year in which the application is made. The application deadline is March 1, 2020.
“The Senior Citizen Real Estate Tax Deferral Program provides a great solution for seniors to help cover the cost of their property tax payments, allowing them to stay in the home they have built their lives in,” continued Hurley. “I encourage seniors who qualify to get their applications in as soon as possible, as the first tax payment installment date is coming up quickly.”
Original source can be found here.
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