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Property Tax Deferment Program

The Property Tax Deferment Program is a low-interest loan program offered by the Province of British Columbia to assist qualifying homeowners in paying annual property taxes on their principle residence. There are two programs that City residents may qualify for:

  • Families with Children Program
    You may qualify for this program if you're a parent, stepparent or financially supporting a child.

  • Regular Program
    You may qualify for this program if you’re:
    • 55 or older during the current year or
    • a surviving spouse of any age or
    • a person with disabilities

 

Interest Rates

Interest rates are set every six months. The interest rates until September 30, 2016 are:

Regular Program:     0.70%
Families With Children Program:     2.70%

The amount to be deferred under this program does not include the Home Owner Grant. Property owners are reminded to claim the Home Owner Grant each year to avoid penalties.

More info: Province of BC Property Tax Deferment Program.

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