The Province of BC administers the Property Tax Deferment program to assist qualified home owners with deferral of property taxes. The program allows home owners to defer payment of property taxes, along with interest, until the home is sold, transferred to a new owner or becomes part of the probate of an estate. If property and equity qualifications are satisfied, homeowners have the following deferment program options:

• Regular Program
  • a person 55 years or older
  • a surviving spouse of any age
  • a person with disabilities
• Families with Children Program
  • Parent, stepparent or financially supporting a child under the age of 18

Province of BC Budget 2026 includes changes to the interest rate terms for the property tax deferment program. The 2026 changes to the BC Property Tax Deferment Program represent a shift from relatively low, simple (non-compounding) interest rates that were set at or below the prime rate.

Under the new framework, interest is calculated at a higher rate—set at prime plus a margin—and is compounded regularly, increasing the overall cost of carrying deferred taxes over time. While existing deferred balances remain subject to the old rules, all new deferments moving forward will be subject to these updated terms.

The Province of BC accepts applications online through the e-deferment program once an applicant has created an online profile with eTaxBC. Property owners must contact the Province directly for assistance with deferment applications by calling 1-888-355-2700 or visiting gov.bc.ca/propertytaxdeferment