Property Tax Deferment is a property tax assistance program offered by the Province. Property Tax Deferment is a low-interest loan program that assists qualifying homeowners in British Columbia in paying the annual property taxes on their homes. The program is administered by the Province in conjunction with municipal tax collectors.
There are two different deferment programs:
- 55 and Older, Surviving Spouse, Persons with a Disability
- Families with Children under 18
Property Tax Deferment allows you to defer your current property taxes less any available Home Owner Grant. The deferment must be applied for on or before the tax due date to avoid penalties. If you miss the property tax due date, you have until December 31 of the current taxation year to apply. Some things to note:
- Before applying for deferment, you must pay user fees, all penalties, interest, and any previous years’ property taxes as these cannot be deferred.
- You must apply for each year you wish to defer your taxes. The new application or renewal must be submitted to the Village of Nakusp along with the Home Owner Grant each year by the due date.
For more information please visit the Province’s website, Tax Deferment BC Residents Property Tax Deferment