Seniors reminded: You can defer property tax
BC’s Seniors Advocate Isobel Mackenzie is reminding seniors they can defer paying their property tax through the provincial Property Tax Deferment (PTD) Program.
“With the PTD program, the province pays the property tax on behalf of the senior directly to the local government. The senior homeowner does not need to pay back the money to the province until the property is sold,” said Mackenzie.
“The PTD program has been gaining in popularity and had 63,581 deferrals in 2018/19 with an average of $4,064 in property tax deferred.”
If you apply after the property tax due date (July 2nd), you must pay any late payment penalties before you can defer your taxes. Only your current year’s taxes will be deferred. Deferment applications for the current year are not accepted past December 31.
New in 2020, is an online application and the ability to automatically renew each year. Previously, applications were paper based only and needed to be re-submitted each year.
Seniors can now visit the Ministry of Finance website and complete the form online or download the form and mail it in. For individuals without the internet or those needing more assistance, they can call the Ministry of Finance at 1-888-355-2700, and an agent can help with the application process.
Seniors can also visit their local Service BC office or municipal government office if there is one open in their area and receive a copy of the form. Due to the COVID-19 pandemic, many municipalities have extended their property tax deadline and penalty rate and date, so homeowners are encouraged to contact their municipality to understand their tax deadline.
Learn more: For information about the Property Tax Deferment Program and to apply online, visit: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/defer-taxes.
For assistance with applying to the Property Tax Deferment Program, contact the Ministry of Finance: Toll-free 1-888-355-2700 Office: 250-387-0555 Email: TaxDeferment@gov.bc.ca.
Property taxes across BC were due July 2nd, but many municipalities have delayed the penalty date for those feeling the pinch from the pandemic. Check out this Times-Colonist article to find out what’s happening in your city, town or village.