WOODSTOCK, Ill. – McHenry County Treasurer Donna Kurtz is launching a series of presentations countywide to explain and promote the Senior Real Estate Tax Deferral Program, which offers tax relief for qualified senior citizens.
The first presentation will be held from 2 to 3 p.m. Wednesday, Jan. 24, at the main meeting room of Woodstock Public Library, 414 W. Judd St. Kurtz will review the program and answer questions regarding completing and submitting an application.
The tax deferral program provides tax relief for qualified senior citizens by essentially providing a loan up to $7,500 to pay a senior’s property tax bill. These funds are granted through the State of Illinois.
Upon qualification, a lien for the deferred amount will be filed on the qualifying property. Deferred amounts are repaid upon the sale or transfer of the property, or within one year of the property owner’s death.
To be eligible for this program, an applicant must be at least 65 years old by June 1, and have a total household income less than $65,000. Other program requirements include:
• Living on the property or other qualifying property for the last two years,
• Having equity in the property,
• Having no unpaid property taxes or foreclosures, and
• Having fire and casualty insurance for the property.
Kurtz and staff will be able to help attendees fill out the two forms required to apply for the deferral: Form IL-1017, Application for Deferral of Real Estate/Special Assessment Taxes, and Form IL-1018, Real Estate/Special Assessment Tax Deferral and Recovery Agreement. While Kurtz will have some copies on hand, she encourages people to print them out themselves – they can be found by visiting the Treasurer’s website at treasurer.mchenrycountyil.gov, clicking “Senior Deferral,” and then clicking on the application link.
A notary public will be on hand at the Jan. 24 presentation to notarize completed forms, free of charge. Attendees are encouraged to register through the calendar on the library’s website at www.woodstockpubliclibrary.org.
All applications for the senior tax deferral must be received by March 1; there will be no extensions. For questions, please visit the Treasurer’s website or contact them at 815-334-4260 or treasurer@mchenrycountyil.gov.
Kurtz plans to hold future presentations on the program in Crystal Lake, Harvard, McHenry, Huntley and elsewhere.
