New online application for property tax deferment
Starting in May, eligible British Columbians can apply online to defer their property taxes.
The online application process is designed to lead to quicker application reviews and, for the first time, allow for automatic renewals, reported the Ministry of Finance in a Feb. 4 media release.
Prior to the launch of the new system, application reviews could take up to five months, leading to potential late penalties and fees. The new online system will allow homeowners to apply online and opt in for annual renewal. As well, current program users will no longer need to renew annually if they continue to meet program requirements.
The property tax deferment program provides low-interest loans that allow qualifying B.C. homeowners to defer their property taxes until they sell or transfer ownership of their home. The taxes can be deferred for any year the homeowner lives in the home and meets the criteria for the program.
The eligibility requirements for property tax deferment remain the same.
B.C. municipalities will no longer be responsible for accepting deferment applications. However, municipalities will continue to handle homeowner grants and utility payments.
Individuals wanting in-person assistance can go to any Service BC Centre and have an agent provide information on the deferment program.