B.C.’s property tax deferral program ‘lifeline for seniors,’ advocate says

A B.C. seniors’ advocate says many people are unaware of the provincial property tax deferral program, despite it being a “financial lifeline for low-income seniors.”

Isobel Mackenzie says people aged 55 and over can start applying to defer their 2022 property tax through the program.

She says most seniors live on an income that is less than a minimum wage job and the deferral program allows them more money to cover necessities like food, transportation and medical costs.

Related stories:

• Few homes in Metro Vancouver eligible for first time home buyers’ program

• Debate over real estate blind bidding overhaul heats up; industry, experts question affordability impact

However, Mackenzie says her office conducted a survey of low-income seniors and found that while almost half were homeowners, fewer than 15 per cent of them used the deferral program.

“I would encourage any senior who is struggling financially and who is eligible for the program to apply,” Mackenzie said.

According to the province, the tax deferment program is a low interest loan program that helps qualified B.C. homeowners pay their annual property taxes.

The window to apply for program runs until Dec. 31. and government tax notices contain the information needed to complete the online application process.

People with disabilities and surviving spouses of any age also qualify.

The Monitoring Seniors Services 2021 report from the Office of the Seniors Advocate shows that 65,505 B.C. seniors deferred their property taxes in 2020/21.

The average homeowner deferred $4,297 in 2020/21 and paid only $51.56 in interest using this program. The report also showed that while the value of deferred taxes under the program is growing each year, there were 15 per cent fewer new users in 2020/21 compared to the previous year.

– With files from The Canadian Press