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News Release: Property tax deferral remains a good option for cash-strapped senior homeowners

BC Seniors Advocate Dan Levitt encourages senior homeowners with affordability challenges to consider deferring their property taxes despite increases to the interest charges announced in Budget 2026.


“The average deferred property tax amount in 2024/25 was $5,400 which is a lot of money for an older adult on a fixed income,” said Levitt. “Seniors who need help to age at home, must travel for medical care, or pay an unexpected bill often find themselves struggling to come up with extra funds. Despite the program changes, property tax deferment is still a good option to support older people to stay in their own homes.”


Changes to the Property Tax Deferment Program include switching from low simple interest (prime minus 2%) to higher compounded interest (prime plus 2%). These changes apply to taxes deferred in 2026 and later; existing deferrals (2025 and earlier) maintain the previous rates.

Read our news release to learn what’s changing, what it could mean for your finances, and where to get more information.