Applications Being Accepted for Tax Deferral Program

Friday, June 05, 2009 03:48 PM

Victoria, B.C.- The Provincial Government is now accepting applications for the Financial Hardship Property Tax Deferment Program, This is the program first announced last fall, which allows eligible homeowners who are facing financial hardship due to current economic conditions to defer the 2009 and 2010 property taxes on their home.

Homeowners may apply once they receive their annual property tax notice.

Homeowners will not have to repay the deferred taxes until they sell or transfer their home, other than to a surviving spouse, but may pay the Province back earlier if they choose. The Province will charge simple interest at the prime rate on the balance outstanding on the tax deferment loan.

This program is in addition to the existing Property Tax Deferment Program which benefits homeowners who are 55 years or older and eligible persons with disabilities.

You can find more information on the program at:
www.sbr.gov.bc.ca/individuals/Property_Taxes/Property_Tax_Deferment/fh_ptd.htm

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Posted on Friday, June 05, 2009 03:48 PM in News by 250 News

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Comments

Posted by: Harbinger on June 5 2009 5:36 PM

Nah! Unless they can offer me a deal like Lyin' Brian got, I ain't a gonna go for it. All taxpayers are equal, aren't they?

Posted by: NMG on June 5 2009 8:11 PM

I guess it's something for the folks who are unemployed. A couple hundred bucks a month could go a long ways for those folks even if they have to pay back a little more when things turn around.

Posted by: Poppa on June 5 2009 10:30 PM

If the government really wanted to help those that are cash strapped right now they should forgive the property taxes for 2009-2010.Those individuals are going to be awhile getting back on their feet when(if) things finally start coming around anyways.

Posted by: just the facts on June 5 2009 11:15 PM

maybe we should get 25% tax break like Canfor in Mackenzie it really funny how the big companies get everything they need from both prov govt and federal govt and municpal govts when is it going to change wake up people

Posted by: supertech on June 7 2009 10:30 PM

When things do come back we'll probably all be working for 10 dollars an hour. Most won't be able to pay it back