Do you qualify to defer property taxes in BC?

In BC, you must meet one of the first three and definitely the fourth criteria to qualify to request deferment:

1. Age (over 55, yes that's surprising young...),
2. Disability as defined by regulation in BC (there are so many different definitions, I know...)
3. Surviving spouse of any age (as in you've been widowed) and are the registered owner
4. Plus you must be a Canadian citizen or a permanent resident of BC for at least one year

The residence has to qualify too:

1. There must be enough equity. You must own at least 25% equity in your residence.  That means your secured debt can't be over 75% of your assessed value for the year
2. This property must be your principal residence, not your cottage or a rental property
3. The property can't be owned by an estate or trust unless you hold a life interest or a right to purchase
4. The property tax must be payable to a municipality, not a First Nation

There's two more caveats:

1. If you already paid your taxes by instalments, sorry it's too late to defer them
2. If there are any charges against the property, they have to be removed first

It's possible to defer your property taxes until you sell or until you die (at which point the deferral could be transferred to the other spouse)

The province of BC does charge an administration fee and interest each year. 

If you're ok with all of those points above, this program may be for you! Remember it's about deferal, and the tax will be paid with interest in the future. Each year you can chose whether to defer or pay, either the whole amount or a portion.  For more information, and I'm sure there's probably some niggly little thing I've missed...

Click here for the BC Property tax deferment form 51 and guide