Real Estate Tax Deferral

This program is similar to a loan against your property.  The State of Illinois pays your real estate taxes for you at 6% interest.  When you pass away or sell the property the loan must be paid back. This is NOT a reverse mortgage.  You may only “borrow” the amount due on your property taxes.

To qualify you must:

• Be 65
• Have household income of less than $50,000
• Have owned the property for at least 3 years
• Have no delinquent property taxes
• Have adequate insurance against fire or casualty loss

The annual filing period for this program is January 1 through March 1.  If you are interested in this program, please contact your Boone County Council on Aging Outreach Counselor at (815) 544-9893 for all of the details.