05/20/2026
🚨 Important Update for BC Seniors & Homeowners 🚨
The B.C. Property Tax Deferment Program has officially changed for 2026.
For years, many seniors or the families have dependent children used this program as a low-cost way to defer property taxes while staying in their homes during retirement or high property tax cost years. But the new rules will make deferment significantly more expensive moving forward.
Here’s what changed for taxes deferred in 2026 and beyond:
• Interest changed from simple interest ➝ compound interest
• Interest rate changed from Prime - 2% ➝ Prime + 2%
• Interest will now grow much faster over time
• Existing deferred balances from 2025 and earlier remain under the old rules (“grandfathered”)
This means the families who defer property taxes long-term could see much more home equity consumed by accumulated interest in the future.
The program still exists, but it’s no longer the low-interest borrowing tool many homeowners relied on before.
If you or your family members currently use BC property tax deferral program, it may be worth reviewing your long-term financial and real estate plans for 2026 onward.