Tax Deferment Program

The British Columbia Property Tax Deferment Program allows property owners to defer annual property taxes on their home if the following criteria are met:

• age 55 or older; or
• a surviving spouse (any age); or
• a person with a disability, as defined under the disability Benefits Program Act

and

• be a Canadian citizen or landed immigrant who has lived in British Columbia for at least one year immediately prior to applying for tax deferment
• have a minimum equity of 25% in the home based on assessed values as determined by BC Assessment
• application on deferment of taxes for the principal residence

Details to this program may be obtained at the following website:

http://www.sbr.gov.bc.ca/individuals/Property_Taxes/Property_Tax_Deferment/ptd.htm

or by phone to the City of Richmond tax department at 604-276-4145

Families with Children Property Tax Deferment Program
This deferment program assists families during those years when household costs can be the highest.

Details to this program may be obtained using the same website noted above.

Renew Your Deferment
Once enrolled in the Tax Deferment Program, the property owner must complete a renewal application each year in order to continue to defer taxes.  The renewal application will be sent to those homeowners in May each year.  Additional blank forms are available at:

BC Government - Deferment Renewal Application