Village of Tinley Park issued the following announcement on Jan. 15.
Seniors whose annual household income is $55,000 or less can now apply for the Cook County Treasurer’s Office's Senior Citizen Real Estate Tax Deferral Program, which issues loans to cover property tax payments. The loans, which are issued by the State of Illinois, do not have to be repaid until the property is sold or the homeowner dies.
The State charges a simple interest rate of six percent per year, and the maximum loan is $5,000 per year. To qualify, homeowners must be at least 65 years old by June 1 of the year in which the application is made.
To apply, submit a completed application, available at cookcountytreasurer.com, as well as copies of the required documents to the Cook County Treasurer’s Office. The deadline to apply is March 1; applications after that date cannot be accepted. Homeowners must reapply every year. The First Installment for Tax Year 2020 is due March 2, but late charges are waived through May 3.
Visit the Cook County Treasurer website for more information.
Original source can be found here.
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