Qualified Senior Citizens can elect to defer all or part of their property taxes on their principal residence.
To be eligible:
Must be 65 years old or older by June 1, 2024
Total Household income under $65,000
Own the property or share joint ownership with spouse and have lived in the property for the last 3 years
Have adequate insurance for fire or casualty loss
Have no unpaid property taxes and special assessments on the property
Up to $5,000 per year can be deferred, up to 80% of the equity in home (taxes and interest).
The State of Illinois will pay the deferred tax amount if you qualify. The State of Illinois will place a lien on your property and interest is 3% simple interest per year.
Applications will be available after December 1 and are due by March 1 of the following year in the Treasurer’s Office. Both form IL-1017 and IL-1018 must be filled out and returned together. Applications received after March 1 can not be processed.
Bond County Treasurer
206 West Main St
Greenville, IL 62246
More detailed information can be found in the instructions for form IL-1017.
