Defer your property taxes
The Property Tax Deferment Program is a low-interest provincial loan program designed to help qualified BC home owners pay their annual property taxes.
You may apply to defer your current year's taxes from late May until December 31 of that year. However, to avoid a 5% penalty, your application must be received by the tax office on or by the July due date.
If you have paid your current year taxes in full, do not submit a deferment application until May of the following year.
Types of property tax deferment
There are two variations of the Property Tax Deferment Program. You can learn more about them, including eligibility criteria, on the Province of British Columbia’s website:
- Property tax deferment for families with children
- Property tax deferment for people aged 55 and older, surviving spouses and people with disabilities
You will have two tax deferment options if you are new to the program
- Pay the February taxes and defer only the July taxes to avoid paying any penalties.
- Defer the full year's taxes. You will incur a 5% penalty on the advance amount. Send your penalty payment, home owner grant application, and deferment application to the City by the July due date.
You still need to claim your home owner grant
It's easy to forget to claim your home owner grant when you defer your taxes. Remember that even when you defer your taxes, you still need to claim your home owner grant each year. You also need to renew your deferral each year.
Sending your forms directly to the City can help you avoid unnecessary penalties
While the Tax Deferment Program is provincial, the City collects the applications between mid-May and December 31 each year. If you send your application to the province, they will mail it to us. This delay in the mail may result in late penalties being applied to your property taxes.