Yingling Encourages Seniors to Take Advantage of Tax Relief Options

02/11/2015

HAINESVILLE, Ill. – State Rep. Sam Yingling, D-Grayslake, is encouraging Lake County senior citizens to take advantage of the Senior Citizen’s Tax Deferral Program, offered through the Lake County Treasurer’s Office, as well as the Senior Homestead Exemption, which is offered through the Lake County Assessor’s Office.

“I know that property taxes in our area are one of the biggest expenses that our seniors face,” Yingling said. “I want to make sure that seniors in our community are aware of some of the programs that can help alleviate some of their property tax burden.”

Seniors who want to defer part of the property taxes on their personal residence can apply for the Senior Citizen’s Tax Deferral Program. Anyone who will be 65 or older as of June 1 of the tax year claimed with a total household income of $55,000 or less can be eligible to apply. The program provides a state loan with a 6% simple interest rate and can help seniors in reducing their monthly burden of paying property taxes. Applications must be notarized and returned by March 1, so seniors who are interested in applying are encouraged to start the process as soon as possible. For any questions, seniors should contact the Lake County Treasurer’s Office at (847) 377-2323.

Seniors who have reached 65 during the tax year can also be eligible for the Senior Homestead exemption through the Lake County Assessor’s Office. Residents can apply at their local Township Assessor’s office or the Chief County Assessment office. The exemption reduces the equalized assessed value of the homeowner’s property by $5,000. For any questions, seniors should contact the Chief County Assessment office at (847) 377-2050.

Yingling represents the 62nd District, which contains portions of Gages Lake, Grayslake, Hainesville, the Round Lake communities, Wauconda and Wildwood.

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