DEFERMENT OF PROPERTY TAXES

Eligible home owners may apply to have the Provincial Government pay the current year's residential Property Taxes for their principal residence. If you defer, the taxes paid on your behalf become a debt registered against your property title and interest accrues annually. Interest rates are set twice a year.  To find out more information about the Provincial Property Tax Deferment program including eligibility requirements and interest rates, visit the Defer Your Property Taxes page on the Province's website.

The time to apply for Property Tax Deferment is after you receive your annual Property Taxes at the end of May. To avoid penalty, the deferment application, payment for the other fees and charges listed on the Property Tax Notice, and the Home Owner Grant application must be received by the Property Tax due date. Late applications will be accepted until December 31, but late payment penalties will apply.

Program Available

For 2018, there are two Property Tax Deferment Programs available.

Regular Property Tax Deferment Program

This plan applies to eligible property owners who: 

  • Are at least 55 years old, disabled or widowed
  • Have a minimum equity in their home of 25% of the assessed value

Use the Property Tax Deferment Eligibility Calculator - Regular Program to find out if you’re eligible to apply.

Property Tax Deferment Program for Families with Children

This plan applies to eligible property owners who:

  • Are financially supporting a dependent child under age 18
  • Have a minimum equity in their home of 15% of the assessed value

Use the Property Tax Deferment Eligibility Calculator - Families with Children Program to find out if you’re eligible to apply.

Important Information About Tax Deferment

It can take several months to process applications so you may not get a response from the Provincial Property Tax Deferment Office until after the Property Tax due date. If your application is received by the property tax due date but is approved after the due date, you won’t be charged a late payment penalty. However, if the Provincial Property Deferment Office determines you are not eligible for deferment or cancels your application for any reason, and it’s past the Property Tax due date, late penalties will apply.

You can defer your taxes as long as you own and live in your home and continue to qualify for the program. If your home is sold, your account with the Province must be paid in full. If you refinance your home, your mortgage holder may require the full repayment of deferred taxes upon refinance. If you are planning on selling or refinancing your home, please contact the Provincial Property Tax Deferment Office.

Previous Deferred Taxes

If you deferred your taxes last year, you will receive a renewal application from the Provincial Property Tax Deferment Office (Victoria). Renewal is not automatic. The renewal application must be completed and submitted to The City of Nanaimo - Revenue Services Department along with your Home Owner Grant application (if eligible) and payment for the Other Fees and Charges shown on your Property Tax Notice.

More Information

For further information about the Tax Deferment Programs you can:

  • Contact the Provincial Property Tax Deferment Office at 888-355-2700
  • Telephone the Financial Services Department at 250-755-4415 or visit us at the Service and Resource Centre
  • Visit the Defer Your Property Taxes page on the Provincial Government website

Last updated: November 28, 2018

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