Cook County Treasurer Announces Program For Senior Tax Deferral

LEMONT, IL — The Cook County Treasurer's Office administers the Senior Tax Deferral program for eligible seniors to defer property taxes, Lemont Township sahred in a news release.

There are three Illinois programs that provide property tax relief to homeowners who are at least 65, the Township said. But only one program, the Senior Tax Deferral, is accepting applications now.

Applications for the other two programs, the Senior Citizen Exemption and the income-based Senior Freeze Exemption, have not been issued yet but should be available in the next few weeks, according to the Township.

Administered through the Cook County Treasurer’s Office, the Senior Tax Deferral is essentially a loan from the state, allowing low-to-moderate income seniors to borrow against the equity in their homes to pay as much as $7,500 in property taxes per year, the Township said.

"Unlike a normal loan, however, the Senior Tax Deferral does not require loan payments. Borrowers
will eventually pay 3 percent annual interest on the loan, but the interest and principal will not be
repaid until the home is sold, or within a year of the applicant’s death," the Township said.

This year, senior households with annual income of up to $75,000 can qualify for the Senior Tax Deferral. This is an increase over last year, when the maximum income was $65,000.

Basic Eligibility Rules for Senior Deferral

• Application Deadline: March 1
• Minimum Age: 65 years old as of June 1
• Maximum Income: $75,000 in total income for all members of household in 2025
• Owner-Occupant: Applicant must own and live at the house for at least three years
• Home Equity: Equity in the senior’s home must exceed the amount deferred