Property tax deferment program
B.C.'s property tax deferment program is a provincial loan that pays an eligible owner's current-year property taxes, secured by a lien on the home. Taxes deferred for 2026 and later carry compound interest at prime plus 2%, 6.45% throughout 2026.
We explain the official rules; we do not decide who qualifies. Eligibility is determined by B.C. Ministry of Finance, Property Taxation Branch (under the Land Tax Deferment Act). Check the official program page before you apply.
What the Property tax deferment program is
The property tax deferment program is "a loans program available to eligible B.C. homeowners" that lets them defer their current year property taxes. Once an application is approved, the Ministry of Finance pays the property taxes after the due date and "places a restrictive lien on your property," which limits changes to the title while the loan is outstanding.
There are two streams. The regular program is for owners who are 55 or older during the current year, surviving spouses of any age, and persons with disabilities. The families with children program is for parents, stepparents and others financially supporting a child.
Budget 2026 changed the interest terms. For taxes deferred for 2026 and later years, both programs charge compound interest at prime plus 2%, compounded monthly. Taxes deferred for 2025 and earlier keep simple interest at prime minus 2% (regular) or prime (families).
Only residential (class 1) or residential and farm (class 1 and 9) taxes on a principal residence can be deferred. The loan can be repaid at any time and must be repaid in full before selling, refinancing or certain other title changes.
Amounts
As published by B.C. Ministry of Finance, Property Taxation Branch (under the Land Tax Deferment Act)
| Item | Amount or rule | Applies to | Source |
|---|---|---|---|
| Interest on taxes deferred for 2026 and subsequent years (regular and families programs) | Prime plus 2%, compound interest, set January 1, April 1, July 1 and October 1, calculated daily and compounded monthly | Taxes deferred for 2026 and later | 3, 8 |
| Rate on 2026 and later deferrals, October 1 to December 31, 2026 | 6.45% (prime 4.45%) | Oct 1, 2026 to Dec 31, 2026 | 4 |
| Rate on 2026 and later deferrals, January 1 to September 30, 2026 | 6.45% in each quarter (prime 4.45%) | Jan 1, 2026 to Sep 30, 2026 | 4 |
| Interest on taxes deferred for 2025 and previous years, regular program | Prime minus 2%, simple interest: 2.45% (prime 4.45%) | Oct 1, 2026 to Mar 31, 2027 | 3, 4 |
| Interest on taxes deferred for 2025 and previous years, families with children program | Prime, simple interest: 4.45% | Oct 1, 2026 to Mar 31, 2027 | 3, 4 |
| Fees, regular program | $60 administrative fee on first application; $10 renewal fee for every year renewed (added to the loan balance if approved) | 2026 | 3 |
| Fees, families with children program | No application or renewal fees | 2026 | 3 |
| Minimum equity, regular program | 25 percent of the property's assessed value (charges plus deferred taxes cannot exceed 75 percent of the BC Assessment value) | 2026 | 2, 5 |
| Minimum equity, families with children program | 15 percent of the property's assessed value (charges plus deferred taxes cannot exceed 85 percent of the BC Assessment value) | 2026 | 2, 5 |
| Minimum balance to keep an account open after a payment | $25.00 | 2026 | 7 |
Official eligibility criteria
- Regular program: be 55 or older during the current year, a surviving spouse of any age, or a person with disabilities designated under the Employment and Assistance for Persons with Disabilities Act.2
- Families with children program: be a parent, a stepparent, or financially supporting a child under 18, or your own child or stepchild of any age who is attending an educational institution or has a qualifying disability.2
- Be a Canadian citizen or permanent resident of Canada and a registered owner of the property.2
- Have lived in B.C. for at least one year prior to applying.2
- Have paid property taxes for the residence to a municipality or the province, and have paid all previous years' property taxes, utility user fees, penalties and interest.2
- The property must be your principal residence (cottages, summer homes and rental homes are not eligible) and be taxed as residential (class 1) or residential and farm (class 1 and 9). Classes 2 to 8 are not deferrable.2
- Meet and maintain the minimum equity: 25 percent of assessed value (regular) or 15 percent (families with children).2,5
- Not eligible if, among other reasons, current year taxes are already paid in full, taxes are paid to a First Nation or the property is leased from a First Nation, municipality or the Crown, the title is entirely held by a corporation or in trust, or a judgment or certificate of pending litigation is registered on title.2
Quoted or closely paraphrased from the official program rules. Eligibility is determined by B.C. Ministry of Finance, Property Taxation Branch (under the Land Tax Deferment Act).
How to apply
Applications and renewals are made online to the Ministry of Finance through eTaxBC between May 1 and December 31 each year. The application asks for the applicant's social insurance number and date of birth, the property's jurisdiction and roll number, and (for renewals) the PTD number. It includes a built-in equity calculator, and the ministry runs a title search to confirm registered charges. Every registered owner must agree separately to the terms and conditions.
Owners can set up automatic renewal for later years. Requested documents are due within 30 days, or the application is cancelled. The province warns that if an application is cancelled, late payment penalties will apply if it is after the property tax due date, and that late payment penalties "are legislated and cannot be waived or removed." Deferring does not replace the home owner grant, which must still be claimed each year.
Eligibility is determined by the B.C. Ministry of Finance (Property Taxation Branch).
Key dates
- New compound interest terms (prime plus 2%) apply to taxes deferred for 2026 and laterJanuary 1, 2026
- Application and renewal window opensMay 1 each year
- Annual Statement of Account issuedBy early May each year
- Last day to apply or renew for 2026December 31, 2026
- Interest rate on 2026 and later deferrals reset datesJanuary 1, April 1, July 1 and October 1
- Interest rate on pre-2026 deferrals reset datesApril 1 and October 1
Property tax deferment program: common questions
What interest rate applies to B.C. property taxes deferred in 2026?
For taxes deferred for 2026 and later years, both the regular and families with children programs charge prime plus 2%, compounded monthly. The province's rate table shows 6.45% (prime 4.45%) for every quarter of 2026, including October 1 to December 31, 2026. Interest starts from the tax due date or the application date, whichever is later.
What happens to balances deferred before 2026?
Taxes deferred for 2025 and earlier years keep simple interest. For October 1, 2026 to March 31, 2027 the province lists 2.45% for the regular program (prime minus 2%) and 4.45% for the families with children program (prime). Payments are applied to the oldest 2026-and-later debt first, then the oldest pre-2026 debt, in the order fees, interest, principal.
How much equity is required?
The regular program requires minimum equity of 25 percent of the property's assessed value, and the families with children program 15 percent. The province calculates equity by subtracting current year property taxes and every registered charge, such as a mortgage and the full credit limit of a secured line of credit, from the BC Assessment value.
Are there fees?
Under the regular program, the province charges a $60 administrative fee on the first application and a $10 renewal fee for every year renewed. The fees are added to the loan balance only if the application is approved, and no interest is charged on them. The families with children program does not charge these fees.
When does the deferment loan have to be repaid?
The loan can be repaid in whole or in part at any time. Because the lien is restrictive, the province says it must be repaid in full before selling the property, refinancing, subdividing, adding someone other than a spouse to title, or removing a registered owner other than a deceased owner. The lien is released after full payment clears.
Related programs
Sources
Checked a second time against these sources on October 28, 2026
- Property tax deferment program (last updated April 17, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to 2026 · checked October 28, 2026 · copy archived
- Property tax deferment program eligibility (last updated March 20, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to 2026 · checked October 28, 2026 · copy archived
- Interest and fees for property tax deferment (last updated July 2, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to Taxes deferred for 2026 and subsequent years; taxes deferred for 2025 and previous years · checked October 28, 2026 · copy archived
- Current and previous property tax deferment interest rates (last updated October 1, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to Rates in effect January 1, 2026 to March 31, 2027 · checked October 28, 2026 · copy archived
- Understanding property equity (last updated March 17, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to 2026 · checked October 28, 2026 · copy archived
- Apply for the property tax deferment program (last updated August 31, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to 2026 · checked October 28, 2026 · copy archived
- Repaying your property tax deferment loan (last updated May 5, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to 2026 · checked October 28, 2026 · copy archived
- B.C. Provincial budget tax changes (Budget 2026, announced February 17, 2026; last updated February 26, 2026), Government of British Columbia, Ministry of Finance (Property Taxation Branch)Applies to 2026 and subsequent taxation years · checked October 28, 2026 · copy archived
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