Account Repayment

Your deferment account is made up of the deferred property taxes, interest, and application and renewal fees.

You may repay all or part of your account at any time without penalty.

There are various methods to repay a deferment account, depending on who is paying.

If you are an agreement holder who wishes to repay your account, please call us directly at 250-387-0555.

Payments on your account may be made by personal cheque. The final payment must be certified funds (i.e. bank draft, money order or certified cheque). All payments must be made payable to the Minister of Finance.

If you wish to pay the majority of your deferment balance but think you may renew in the future, leave a balance of $21 owing to keep your account open. This will prevent a new application fee of $60.

You can defer your taxes as long as you own and live in your home and continue to qualify for the program. If your home is sold, the property tax deferment account must be paid in full by certified funds.

Lawyers, notaries and financial institutions wishing to pay an agreement holder's account must fax a payout request to 250-356-5347 with the agreement holder's full name and civic address, stating clearly they are acting on behalf of the agreement holder. A payout statement will be faxed within two business days.

Note:

The tax deferment program does not accept undertakings from lawyers at time of sale to release our lien before payment is received.

The tax deferment program will not grant priorities to financial institutions to place their charge ahead of the tax deferment lien.