Financial Hardship Property Tax Deferment Program

Eligibility Criteria

Homeowners with at least 15 per cent equity in their home, based on assessed values as determined by BC Assessment, who declare that they are facing financial hardship due to current economic conditions, and who meet the program eligibility requirements, will be eligible to apply.

To qualify for the Financial Hardship Property Tax Deferment Program, you must:

• be the registered owner(s) of the home
• be a Canadian citizen or permanent resident under the Immigration Act (Canada)
• have lived in British Columbia for at least one year immediately prior to applying
• apply on the home in which you live
• have a minimum equity of 15% in your home based on assessed values as determined by BC Assessment
• have a current fire insurance policy on your home
• the property taxes are up to date prior to the current year Levy

If you own your home under a registered 99 year lease or have a life estate interest in your home, you may also qualify for tax deferment.

The definition of "spouse" includes:

• a marriage partner
• a person who has lived with the owner as common-law husband or wife, including same-sex partners, for a continuous period of not less than two years