<<< back to article list

Property Tax Deferment Program

Blog by Diane Cardoso | March 28th, 2011

The BC Government helps property owners who are unable to pay annual property taxes and are at risk of losing their homes.  See if you qualify for one of these 3 low-interest tax deferment assistant programs: 1) For Seniors - owners 55+, a surviving spouse or a person with a disability who are Canadian Citizens and permanent residents may qualify if they maintain a minimum equity of 25% of the current assessed value, if they have lived in BC for 1 year, if they occupy as principal residence and maintain fire insurance on their home, 2) Financial Hardship - low income property owners with at least 15% equity in their home also may qualify, 3) Families with Children - qualifying home owners financially supporting a dependent child under age 18, who have at least 15% equity in their home may also qualify for this tax deferment.  NOTE: A home owner considering a tax deferment program should get financial advice. These programs are administered by the Ministry of Finance.  Tax deferment applications are available at your local government office.  For more information, visit: www.sbr.gov.bc.ca/individuals/property_taxes/property_tax_deferment/ptd.html