The Senior Citizens Real Estate Tax Deferral Program provides tax relief for qualified senior citizens by allowing them to defer up to $5,000.00 of their property tax. A lien is placed on the property and interest is assessed at 6% simple interest per year. The property taxes do not become due until after death of the property owner or when the real estate is sold.
To qualify for the tax deferral you must:
- Be 65 years of age or older.
- Have a total household income of $55,000.00 or less.
- Have equity in the property.
- Have no unpaid property taxes or foreclosures on the property.
- This program is available for owner occupied, primary residences only.
Applications will be available on the website from mid December through February. All applications must be completed and into the McHenry County Treasurer’s Office by March 1st, 2020.
The application process in now closed. We are no longer able to accept Senior Deferral Applications for the 2019 (payable in 2020) tax year.