This is a low interest loan program that allows you to defer your annual property taxes on your home if you meet certain eligibility criteria. The program is available to Canadian citizens and permanent residents who have lived in BC for at least one year. You must occupy the home as your principal residence.
After deducting your Home Owner Grant, you can defer all or part of the unpaid balance of your residential property taxes for the current year. The deferred taxes must be fully repaid, with interest: before your home can be legally transferred to a new owner (other than directly to your surviving spouse), or upon the death of the agreement holder.
