Property Tax Deferment
Property Tax Deferment is a property tax assistance program offered by the province. Property Tax Deferment is a low-interest loan program that assists qualifying homeowners in British Columbia in paying the annual property taxes on their homes.
The program is available to Canadian citizens and permanent residents who have lived in British Columbia for at least one year prior to applying for the program. You must occupy the home as your principal residence. Second residences, such as summer cottages or rental properties, do not qualify for tax deferment.
Eligibility Criteria
There are three options when applying for the tax deferment program. See the Property Tax Deferment Programs Comparison Chart
. To learn more about each option's eligibility criteria please review:
- Property Tax Deferment Program
- Persons with Disabilities Property Tax Deferment Program
- Families with Children Property Tax Deferment Program
How to Apply
After deducting your Home Owner Grant, you can defer all or part of the unpaid balance of your residential property taxes for the current year. All penalties, interest, previous years' property taxes, and utility user fees
must be paid to the municipal tax collector as these cannot be deferred.
Steps:
A. Receive your property tax notice.
B. Depending on the option you have chosen:
1. Property Tax Deferment Program
· Complete the Application and Agreement for Deferment of Property Taxes (FIN 51).
2. Persons with Disabilities Property Tax Deferment Program
· Complete the Application and Agreement for Deferment of Property Taxes (FIN 51).
Note: To be considered for eligibility as a person with disabilities you are required to provide either:
· a copy of either a recent letter confirming your Persons with Disability designation or your
Release of Information Form from the Ministry of Employment and Income Assistance confirming
you have the designation
OR
· a Physician Certification Form (FIN58), completed and signed by your physician. The form
explains the disability eligibility criteria for the Property Tax Deferment Program.
3. Families with Children Property Tax Deferment Program
· Complete the Application and Agreement for Deferment of Property Taxes (FIN 28).
C. Return the completed application and agreement by mail or in person to City Hall for processing
before the property tax due date:
City of Kelowna
Revenue Branch
1435 Water Street
Kelowna, BC VIY 1J4
The City of Kelowna Revenue Branch will complete the Collector portion and forward the
application/agreement to the Tax Deferment Office.
Attention: Due to the large volume of applications, you may not be notified about your
application status for several months.
Late payment penalty
You must pay late payment penalty charges if, after the property tax due date, you:
- are found ineligible for the program
- cancel or withdraw your application for any reason before deferment program pays the taxes on your behalf
- apply for deferment after the property tax due date
- sell your home before the taxes have been paid on your behalf.
Adding a Spouse to Property Tax Deferment
If you are a home owner with an existing Property Tax Deferment Agreement and wish to add your spouse on title, you must complete the FIN54 Application and Amending Agreement
to continue deferring your property taxes. This application must be mailed to the Ministry of Finance directly at PO Box 9446, Stn Prov Govt, Victoria, BC V7W 9V6.
To Defer This Year's Taxes
When you receive your property Tax notice complete the home owner grant section and sign the Renewal Application Form at the "X". Return both forms to the City of Kelowna before the tax due date.
Interest Rates
To view the current interest rates for deferment loans click on Deferment Interest Rates.