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:
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 owner must be 55 or older any time during the current calendar year), or
- a 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
To qualify for this program, your eligible property must:
- Be your principal residence (where you live and conduct your daily activities), and
- Be taxed as residential (class 1)
Your property doesn't qualify for tax deferment if:
- You don't meet ALL program qualifications
- Your current year property taxes have already been paid in full
- You owe overdue property taxes in arrears for previous years
- It's a second residence like a cottage, summer home or rental home
- The property is taxed by a First Nation
- The property title is entirely in the name of the executor/executrix, or an administrator of the deceased owner's estate
- The property title is entirely in trust
- The property is leased from the Crown or Municipality
- It's a float home or a home on stilts 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)
Contact your lender prior to applying to ensure approval into the program does not conflict with the terms of your loan.
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.
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.
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.
Note: This eligibility calculator does not auto populate your application form.
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 (issued in January)
- Current mortgage statement
- Line of credit statement indicating the credit limit
- House insurance documents
Note: Some firewall protection settings may prevent our emails coming to you. Please add email@example.com to your contacts so our emails do not go into your spam or junk folder.
If you do not indicate an email address on your application, our office will send correspondence requesting information by mail. Ensure you are regularly monitoring your email or mail. Failure to respond to any requested information by the given due date will result in your application being rejected.
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: