Seniors Property Tax Deferral Program
The purpose of this program is to lower the cost of living for eligible seniors by offering to defer payment of property taxes on their principal residence.
Who is eligible?
You may qualify for the program if you:
- are 65 years of age or older;
- have occupied your principal residence for at least six months in the year preceding the date of application; and
- have an annual household income of less than $42,000.
How does it work?
Upon acceptance into this program, as a property owner, you are no longer required to make payments on your annual property taxes. While payment of the property taxes is deferred, property taxes continue to be levied on the property. Under the Real Property Tax Deferral Program for Senior Citizens, interest does not accumulate on the deferred property tax account balance.
All deferred property taxes become payable when:
- the property owner dies; or
- the property owner sells the property.
Conditions
If you own and occupy part of a multiple family dwelling, such as half a duplex, the payment of property taxes can be deferred only on the portion of the home that you occupy.
On properties consisting of two or more acres, payment of property taxes can be deferred only on the house and the lot on which the house is located.
Payment of property taxes can be deferred on only one property. For example, if you own both a winter home and a summer cottage, you can only defer the payment of property taxes on the property you designate as your principal residence.
How do I apply?
Complete and return the application form to Taxation and Property Records with a copy of last year’s income tax return(s) for the registered owner(s) of the property and any other person residing in the house. If your application is approved, you will receive a deferred tax certificate in the mail. You will continue to receive your annual property tax bill. The annual property tax bill will provide information on the amount of the accumulated property taxes owing on your home.