Elderly Property Tax Deferral Program

State Treasurer Mark Hillman's Elderly Property Tax Deferral helps senior citizens, many of whom live on a fixed income, continue to afford to live in their own home. The program loans senior citizens 65-years of age or older funds to pay their property taxes.

The State Treasury makes tax payments directly to the county on behalf of the participant for the entire amount due that year. The loan is logged as a lien against the participant's property that does not have to be remitted until the property sells or the mortgage changes hands.

To participate, seniors must apply to their individual county treasurer every year. The deadline is April 1st of each year. County treasurers are paid property taxes, from the Elderly Property Tax Deferral program, by April 30th and county reports are mailed at the end of December.

Requirements for eligibility:

• Claimant must be 65 years or older.
  
• Cumulative amount of the deferral plus interest must not exceed the market value of the property less the value of any liens.
  
• Mortgage holder agrees that the state’s interest in the property would legally come before his interest in the property.
  
• All property taxes for prior years must have been paid.
  
• Must own and occupy your residence – ill health will not cause you to lose deferral.
  
• Must not be earning any income.

Procedures:

• Claimant files an application each year with the county treasurer between January 1st and April 1st each year.
  
• County treasurer issues a certificate of deferral.
  
• County treasurer records the certificate of deferral, and sends the original to the state treasurer. One copy is given to the county assessor and one copy is retained in the county treasurer’s office.
  
• State treasurer charges interest beginning May 1, please contact the office for current rates.

Visit our Links page to locate your county treasurer.