Author Topic: Question: Property Tax Deferral Program  (Read 1276 times)

Getting there!

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Question: Property Tax Deferral Program
« on: September 12, 2014, 09:33:59 PM »
Our provincial government (Canada), has implemented a new program this past year for seniors - Seniors Property Tax Deferral Program .  The property taxes can be deferred indefinitely and there would be a 3% annual charge that's also deferred.  The loan charge is not revolving credit, so the 3% is only charged on the accumulating principal amount of property taxes.  We do pay our property taxes, but I'm thinking it might be worthwhile participating anyways.  That would be an addition $322 each month in our case.  A property owner can cancel participation at any time, and as long as eligibility requirements met each year there's no need to reapply for ten years.  If a home is sold, then the owing taxes are paid at that time. I'd appreciate any feedback anyone might have.

sol

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Re: Question: Property Tax Deferral Program
« Reply #1 on: September 12, 2014, 09:40:33 PM »
I'm all for it.

I recently learned that some of our local counties also have a tax reduction program for disabled people, in addition to old people.  It's no good to me, but I have disabled family that just found out about this and are kicking themselves for the tens of thousands of dollars they've thrown away over the years by not participating.