Cook County Treasurer Announces Senior Tax Deferral Program

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The Cook County Treasurer's Office has launched a new Senior Tax Deferral program, allowing Lemont homeowners aged 65 and older with household incomes up to $75,000 to postpone up to $7,500 in annual property taxes by borrowing against their home equity at 3% interest. The deferred taxes would be repaid when the home is sold or within a year of the applicant's death.

Why it matters

The program aims to provide property tax relief for Lemont's senior residents on fixed incomes, helping them remain in their homes as housing costs rise. It comes as Cook County has seen an increase in property tax burdens, especially for longtime homeowners.

The details

To qualify, Lemont residents must be 65 or older with a household income of $75,000 or less. They can defer up to $7,500 in annual property taxes, with the deferred amount accruing 3% interest. The taxes would be repaid when the home is sold or within a year of the applicant's death.

• The Senior Tax Deferral program is now accepting applications from Lemont residents.

What’s next

Eligible Lemont homeowners 65 and older can apply for the Senior Tax Deferral program through the Cook County Treasurer's Office.