Deadline for Senior Property Tax Relief is March 1
Will County Treasurer Steve Weber reminds senior citizens that the deadline to apply for property tax relief is March 1.
The Senior Citizens Real Estate Property Tax Deferral Program gives residential property owners 65 and over the opportunity to defer up to $5,000 of their property taxes.
“Tough economic times and fixed incomes are a perfect storm for senior citizens trying to pay their property taxes,” Weber said, “Although this program does not get rid of the responsibility of paying property taxes, the Senior Tax Deferral has helped seniors plan how they pay their taxes.”
“Our office can help you determine if you are eligible,” Weber added.
The guidelines for the Senior Deferral Program remain the same as in previous years.
· You must be at least 65 years old by June 1, 2013.
· Your total annual household income in 2012 cannot exceed $55,000.
· You may defer up to $5,000 of your property taxes.
· Reverse mortgage agreements often prohibit the homeowner from using this program.
· You must submit proof of paid insurance on the property.
“Our office does not provide tax advice,” Weber said, “Please check with your tax professional before completing any form or enrolling in any program.”