Treasurer reminding seniors about property tax deferral program
The McHenry County Treasurer’s Office is reminding eligible seniors that they have until March 1 to enroll in the Senior Citizens Real Estate Tax Deferral Program.
The program allows qualified seniors to defer all or part of their property taxes and/or special assessment payments on their principal residence. It operates like a loan, allowing seniors to defer up to $7,500, which is then borrowed from the state, which pays the tax bill to the Treasurer’s Office.
This year, the maximum deferral amount has been increased from $5,000 to $7,500, and the household income qualification threshold has been increased from $55,000 to $65,000.
Click here and here to learn more, or contact the Treasurer’s Office at 815-334-4260. |