Frequently Asked Questions

Questions:

	What types of homes qualify for Property Tax Deferment?
	Is there an application fee?
	How much of my taxes can I defer?
	What are utility user fees?
	How long can I defer my property taxes?
	I don't turn 55 until after the property taxes are due. Am I still eligible for the Property Tax Deferment Program?
	I forgot to send my application before the property tax due date. Can I still apply?

Answers:

A homeowner's principal residence qualifies for property tax deferment if the owner has a minimum equity of 25% of the current assessed value determined by BC Assessment. A principal residence is the place where you live and conduct your daily activities. Second residences, such as summer cottages or rental properties, do not qualify.

If your application is approved, a $60 administration fee will be added to your account. Approved annual renewal agreements have an administration fee of $10, which is also added to the deferment account. These fees do not have to be paid at the time of application.

After deducting your Home Owner Grant (if applicable), you can defer all or part of the unpaid balance of your residential property taxes for the current year.

All penalties, interest, previous years' property taxes, and utility user fees must be paid, as these cannot be deferred.

You can defer your property taxes as long as you own and live in your home and continue to qualify for the program.

The deferment account must be fully repaid before you can sell or otherwise legally transfer your home to a new owner, except directly to your surviving spouse.

Utility user fees are fees charged for the use of services such as water, sewer, garbage collection and recycling. Those fees may be based on consumption (e.g., how much water you use) and may include a fixed charge. You cannot defer utility user fees, even if they are included in the annual property tax notice.

Taxes that are levied to put utilities in place (e.g., water and sewer lines) are not utility user fees. Provided those taxes are not in arrears, you may qualify to defer them as part of your annual property taxes.

You are eligible if you turn 55 during the calendar year in which you apply for the program. Only one spouse must be 55 in the case of joint ownership.

You can apply until December 31 of the current year. However, a penalty and interest will apply from the due date of your property taxes until the date your application is submitted. The penalty and interest must be paid before you apply, as these amounts cannot be deferred.