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, 2023
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 6% simple interest per year.
Applications are due March 1, 2022 to the Treasurer’s Office. Both form IL-1017 and IL-1018 must be filled out and returned together. Click on the form number to open and download the form.
Bond County Treasurer
206 West Main St
Greenville, IL 62246
More detailed information can be found in the instructions for form IL-1017.
