There are three Illinois programs that provide property tax relief to homeowners who are at least 65 years of age. 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.
Senior 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. Unlike a normal loan, however, the deferral does not require loan payments. Borrowers will eventually pay 3% 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.
This year, senior households with annual income of up to $75,000 can qualify for the 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, 2026
• Maximum Income: $75,000 in total income for all members of the household in 2025
• Owner-Occupant: Applicant must own the house and live there for at least three years
• Home Equity in the senior’s home must exceed the amount deferred
My office is available to provide additional details about eligibility for the program and help seniors apply for it. 708-383-8005
Ali ElSaffar
Oak Park Township Assessor