By Times Chronicle Staff
The B.C. Seniors Advocate is reminding homeowners aged 55+ that they can apply now to defer their 2022 property tax payments through the provincial government’s Property Tax Deferral Program.
The application window for seniors to apply to defer property taxes is between May 1 and December 31 for this tax year. The property tax notice from local governments, often sent in early June each year, contains the property information required to complete the online application process.
Isobel Mackenzie, B.C. Seniors Advocate, said the program can serve as a “financial lifeline” for lower-income seniors, yet many are unaware of it.
“Through this program, the province will pay the property tax to local government on behalf of the homeowner and save some seniors thousands of dollars each year,” she added. Mackenzie’s office recently conducted a survey of low-income seniors and found that while almost half were homeowners, less than 15 per cent of those surveyed used the Property Tax Deferral Program despite struggling to pay other household expenses.
According to data collected by her office, 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.
“The majority of B.C. seniors live on an income that is less than what a minimum wage job would pay, and while they may own their home, they struggle to pay bills each month.”
She added that by using the program seniors will have more money to cover other necessities such as food, transportation and medical costs. “I would encourage any senior who is struggling financially and who is eligible for the program to apply,” Mackenzie said.
Applying early may help homeowners avoid any missed payment penalties that local governments could levy if property taxes aren’t paid by the July 4 deadline.
The Office of the Seniors Advocate is an independent office of the provincial government that monitors seniors’ services and reports on systemic issues affecting seniors.
The office also provides information and referral to seniors and their caregivers by calling toll free 1-877-952-3181, via email at [email protected], or by visiting seniorsadvocatebc.ca.
