Public Act 90-0170 of the 90th General Assembly
Public Act 90-0170
SB46 Enrolled LRB9001088KDks
AN ACT in relation to property taxes, amending named
Acts.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Senior Citizens Real Estate Tax Deferral
Act is amended by changing Section 3 as follows:
(320 ILCS 30/3) (from Ch. 67 1/2, par. 453)
Sec. 3. A taxpayer may, on or before March 1 of each
year, apply to the county collector of the county where his
qualifying property is located, or to the official designated
by a unit of local government to collect special assessments
on the qualifying property, as the case may be, for a
deferral of all or a part of real estate taxes payable during
that year for the preceding year in the case of real estate
taxes other than special assessments, or for a deferral of
any installments payable during that year in the case of
special assessments, on all or part of his qualifying
property. The application shall be on a form prescribed by
the Department and furnished by the collector, showing that
(a) the applicant will be 65 years of age or older by June 1
of the year for which a tax deferral is claimed, (b)
describing the property and verifying that the property is
qualifying property as defined in Section 2, (c) certifying
that the taxpayer has owned and occupied as his residence
such property or other qualifying property in the State for
at least the last 3 years except for any periods during which
the taxpayer may have temporarily resided in a nursing or
sheltered care home, and (d) specifying whether the deferral
is for all or a part of the taxes, and, if for a part, the
amount of deferral applied for. As to qualifying property not
having a separate assessed valuation, the taxpayer shall also
file with the county collector a written appraisal of the
property prepared by a qualified real estate appraiser
together with a certificate signed by the appraiser stating
that he has personally examined the property and setting
forth the value of the land and the value of the buildings
thereon occupied by the taxpayer as his residence. The
collector shall grant the tax deferral provided such deferral
does not exceed funds available in the Senior Citizens Real
Estate Deferred Tax Revolving Fund and provided that the
owner or owners of such real property have entered into a tax
deferral and recovery agreement with the collector on behalf
of the county or other unit of local government, which
agreement expressly states:
(1) that the total amount of taxes deferred under this
Act, plus interest, for the year for which a tax deferral is
claimed as well as for those previous years for which taxes
are not delinquent and for which such deferral has been
claimed may not exceed 80% of the taxpayer's equity interest
in the property for which taxes are to be deferred and that,
if the total deferred taxes plus interest equals 80% of the
taxpayer's equity interest in the property, the taxpayer
shall thereafter pay the annual interest due on such deferred
taxes plus interest so that total deferred taxes plus
interest will not exceed such 80% of the taxpayer's equity
interest in the property;
(2) that any real estate taxes deferred under this Act
and any interest accrued thereon at the rate of 6% per year
are a lien on the real estate and improvements thereon until
paid. No sale or transfer of such real property may be
legally closed and recorded until the taxes which would
otherwise have been due on the property, plus accrued
interest, have been paid unless the collector certifies in
writing that an arrangement for prompt payment of the amount
due has been made with his office. The same shall apply if
the property is to be made the subject of a contract of sale.
(3) that upon the death of the taxpayer claiming the
deferral the heirs-at-law, assignees or legatees shall have
first priority to the real property upon which taxes have
been deferred by paying in full the total taxes which would
otherwise have been due, plus interest. However, if such
heir-at-law, assignee, or legatee is a surviving spouse, the
tax deferred status of the property shall be continued during
the life of that surviving spouse if the spouse is 55 years
of age or older within 6 months of the date of death of the
taxpayer and enters into a tax deferral and recovery
agreement before the time when deferred taxes become due
under this Section. Any additional taxes deferred, plus
interest, on the real property under a tax deferral and
recovery agreement signed by a surviving spouse shall be
added to the taxes and interest which would otherwise have
been due, and the payment of which has been postponed during
the life of such surviving spouse, in determining the 80%
equity requirement provided by this Section.
(4) that if the taxes due, plus interest, are not paid
by the heir-at-law, assignee or legatee or if payment is not
postponed during the life of a surviving spouse, the deferred
taxes and interest shall be recovered from the estate of the
taxpayer within one year of the date of his death. In
addition, deferred real estate taxes and any interest accrued
thereon are due within 90 days after any tax deferred
property ceases to be qualifying property as defined in
Section 2.
If payment is not made when required by this Section,
foreclosure proceedings may be instituted under the Property
Tax Code.
(5) that any joint owner or mortgagee holding a mortgage
on such property has given written prior approval for such
agreement, which written approval shall be made a part of
such agreement.
(6) that a guardian for a person under legal disability
appointed for a taxpayer who otherwise qualifies under this
Act may act for the taxpayer in complying with this Act.
(7) that a taxpayer or his agent has provided to the
satisfaction of the collector, sufficient evidence that the
qualifying property on which the taxes are to be deferred is
insured against fire or casualty loss for at least the total
amount of taxes which have been deferred.
If the taxes to be deferred are special assessments, the
unit of local government making the assessments shall forward
a copy of the agreement entered into pursuant to this Section
and the bills for such assessments to the county collector of
the county in which the qualifying property is located.
(Source: P.A. 88-670, eff. 12-2-94.)
Section 99. This Act takes effect upon becoming law.