Regular Property Tax Deferment Program

The regular tax deferment program is a low interest loan program that allows you to defer paying all or part of your property taxes on your principal residence if you're:

Find out what the program qualifications are for:

Applicant Qualifications

To qualify for this program, you must:

  • Be a Canadian citizen or permanent resident of Canada
  • Be a registered owner of the property
  • Have lived in B.C. for at least one year prior to applying
  • Pay property taxes for the residence to a municipality or the province
  • Have paid all previous years' property taxes, utility user fees, penalties and interest

and you must be either

  • age 55 or older this year (only one spouse must be 55 or older any time during the current calendar year), or
  • surviving spouse of any age who isn't currently the spouse of another person, or
  • designated as a person with disabilities under the Employment and Assistance for Persons with Disabilities Act, or
  • a person with disabilities and in the opinion of a physician, your severe mental or physical impairment:
    • is likely to continue for at least two years, and
    • directly and significantly restricts your ability to perform daily living activities, either continuously or periodically for extended periods, and
    • as a result of those restrictions, requires you to have an assistive device, the significant help or supervision of another person, or the services of an assistance animal to perform those activities

Property Qualifications

To qualify for this program, your eligible property must:

Your property doesn't qualify for tax deferment if:

  • It's a second residence like a cottage, summer home or rental home
  • You pay the property taxes for the residence to a First Nation
  • The property title is entirely in the name of the executor/executrix, or the estate
  • The property title is entirely in trust
  • It's a float home that doesn't have a property title registered with the Land Title Office
  • It has a Caveat other than Public Guardian and Trustee
  • It has a Certificate of Pending Litigation or an Injunction
  • It has a judgment registered on title (judgments expire two years after registration or renewal unless it’s non-expiring)

Note: If there's an option to purchase on the property title, the property may not qualify for deferment. Contact us for more information before you apply.

Equity Requirements

You must have and maintain a minimum equity of 25% of the property's assessed value. This means that all charges registered against your property plus the amount of taxes you want to defer can’t be more than 75% of the BC Assessment value of your property in the year you apply.

Find out how equity is calculated.

How to Apply

Before you apply for this program you need to find out if you’re eligible by completing the property tax deferment eligibility calculator for this program. The calculator will ask you a series of questions to ensure you meet all program requirements. 

To help you answer the questions on the calculator, we recommend you have the following information available:

  • Annual property tax notice
  • Current assessment notice from BC Assessment Authority
  • Current mortgage statement
  • Line of credit statement indicating the credit limit
  • House insurance documents

You'll find out how to apply for this tax deferment program once you successfully complete the eligibility calculator.

Click on the link below to get started:

Property Tax Deferment Eligibility Calculator – Regular Program