Property Tax Deferment is a property tax assistance program offered by the Province of B.C.
Property Tax Deferment is a low-interest loan program that assists qualifying homeowners in British Columbia to pay the annual property taxes on their homes. The program is administered by the Province in conjunction with municipal tax collectors.
There are two different deferment programs:
- 55 and Older, Surviving Spouse, Persons with a Disability
- Families with Children under 18
Property Tax Deferment allows you to defer your current property taxes less any available Home Owner Grant. The deferment must be applied for on or before the tax due date to avoid penalties. If you miss the property tax due date, you have until December 31 of the current taxation year to apply. Before applying for deferment, you must pay user fees, all penalties, interest, and any previous years' property taxes, as these cannot be deferred.
Several properties in Whistler do not qualify for property tax deferral, these include:
- Properties that are second residences
- Properties with lower than a minimum equity of 25%
- Properties with land leases
You must apply for each year you wish to defer your taxes. The new application or renewal must be submitted to Finance Department at the Resort Municipality of Whistler along with the Home Owner Grant each year by the due date.
For more information please visit the Province's website Tax Deferment.
New for owners of resident-restricted housing
Previously the tax deferment programs were not available for owners of resident-restricted properties that are subject to a Right of First Refusal/Option to Purchase Agreement registered on title. The RMOW and the Ministry of Finance have entered into an agreement that will allow qualifying owners of these properties to participate in the deferment programs. The new agreement does not apply to all resident-restricted properties in Whistler, those subject to a land lease agreement will continue to be ineligible for tax deferment.