Property Tax Relief
Senior Citizens Real Estate Tax Deferral Program
This program is designed to allow senior citizens to defer payment of part or all of the property taxes on their homes. This program functions as a loan, with an annual interest rate of 6%.
To qualify for this exemption, you must:
- Own the property and use it exclusively as a residence. Joint ownership under this program is limited to you and your spouse.
- Have lived on this or another qualifying property for at least three (3) years, except for periods in which you resided temporarily in a nursing or sheltered care home.
- Be age 65 or older by June 1st of the tax year.
- Have a maximum household income of $50,000.
- Owe no delinquent taxes on the property.
NOTE: Filing deadline for the program is March 1st of the tax year. Eligible residents may defer part of their property taxes for each year in which they qualify. Maximum which may be deferred (including interest and fees) is 80% of the taxpayer's equity in the property.
Property taxes deferred under this program become due when the residence is sold or upon the death of the taxpayer. Deferral may be continued by a surviving spouse who is at least age 55 within six (6) months of the taxpayer's death.
Application for the Senior Citizens Real Estate Tax Deferral Program must be made each year, and involves completing two forms available at the Rock Island County Treasurer's Office.
- A request for information about the taxpayer, their income, and the property for which the deferral is sought.
- A request that any joint owners and mortgage lenders agree to the deferral.
- Evidence of adequate insurance on the property.
- Completion of an agreement which set out conditions of the tax deferral, including the maximum amount which can be deferred, interest rate to be charged, and arrangements for repaying the "loan".
Assistance in filling out and processing of completed forms is available from the Rock Island County Treasurer's Office.
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