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Illinois Department of Revenue IL-1017 Application for Deferral of Real Estatel Special Assessment Taxes for Tax Year 2009 Applications must be filed with the county collector on or before March 1,.

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You will qualify for the property tax credit if: your principal residence during the year preceding the tax year at issue was in Illinois, and. you owned the residence, and. you paid property tax on your principal residence (excluding any applicable exemptions, late fees, and other charges).

SENIOR CITIZENS HOMESTEAD EXEMPTION: (PTAX-324) Application shall be made during the application period in effect for the county of his residence. The maximum reduction is $8,000. To file for a Senior Citizen Homestead Exemption you will need: Copy of your recorded deed.

This program allows persons 65 years of age and older, who have a total household income for the year of no greater than $65,000 and meet certain other qualifications, to defer all or part of the real estate taxes and special assessments (up to a maximum of $7,500) on their principal residences.

The deferral is similar to a loan against the property's market value. Deferred amounts are borrowed from the State of Illinois, who pays the tax bill. To ensure repayment, a three percent simple interest rate is charged on the deferred amounts and a lien is filed on the property.

The Homeowner Exemption reduces the Equalized Assessed Value (EAV) of a property by $10,000.

APPLICATIONS ARE TAKEN: January through the cut-off date of March 1st each year the program is offered by the State of Illinois. The Senior Citizens' Real Estate Tax Deferral program provides tax relief for qualified senior citizens by allowing them to defer $7,500 of their property tax on their principal residence.

The Senior Exemption reduces the Equalized Assessed Value (EAV) of a property by $8,000. EAV is the partial value of a property used to calculate tax bills.

Senior Exemption Most senior homeowners are eligible for this exemption if they are 65 years of age or older and own and occupy their property as their principal place of residence. Once this exemption is applied, the Assessor's Office automatically renews it for you each year.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232