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Property Tax Deferment Program

One thing Canada is famous for is its taxes. And like many others in British Columbia, property tax is a bill sent to homeowners at least once a year. In Vancouver where the housing prices have gone up significantly, so has the associated taxation amount.

Fortunately in our province, a Property Tax Deferment Program is in place where payment can be deferred when certain requirements* set out by the government are met. The interest rates charged are also relatively low, with one even currently as low as 1%! The savings can then be put in sound investments to make use of the time value of money.

Ask a Grandtag Financial advisor to see if you qualify for the program and see how payments can be turned into proceeds.

*The list below is for reference only – ask an advisor for full details.

  • Canada citizen or permanent resident who has lived in BC for at least one year immediately prior to applying for the tax deferment program
  • 55 years or older
  • Surviving spouse of any age and a registered owner
  • Person with disabilities as defined by regulation
  • Have dependent children under the age of 18
  • Maintain a minimum equity of current BC assessment value