Richardson GMP
PROPERTY TAX DEFERMENT FOR BC HOMEOWNERS

by Dwight

Skyrocketing home prices in many communities are a daily topic of media coverage and conversation it seems. While most of us are happy to see the value of our homes rise, we are often not so happy about some of the consequences. In particular, rising property taxes, which are tied to property value assessments, are putting a cash flow squeeze on many homeowners.

The Province of British Columbia offers a low interest loan program to homeowners with children, homeowners 55 years of age and older, and surviving spouses. The province will pay your taxes for you, charge simple (NOT compound) interest (currently at 0.70% for homeowners over 55, 2.70% for homeowners with children), and defer repayment until you sell your house. Sound interesting? Click here to learn more.

Vancouver residents should also refer to the City of Vancouver web page on the topic.
 

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Jefferson|Steele

Dwight Jefferson, CIMA®
Senior Vice President
Portfolio Manager
Tel.: 604.640.0555 • Email

Tyler Steele, CFA
Senior Vice President
Portfolio Manager
Tel.: 604.640.0554 • Email

Paul Rietkerk, CIM, FMA
Portfolio Manager
Tel.: 604.640.0562 • Email

Neil Kumar
Portfolio Manager
Tel.: 604.640.0406 • Email

Wendy Lloyd
Associate
Tel.: 604.640.0556 • Email

Jessica Dewey
Associate
Tel.: 604.640.0405 • Email

Brenda Geib, BA
Associate
Tel.: 604.640.0559 • Email

Richardson GMP Limited
500 – 550 Burrard Street
Vancouver, BC V6C 2B5

Toll Free: 1.866.640.0400
Fax: 604.640.0300

www.JeffersonSteele.ca
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The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author's judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances. Insurance services are offered through Richardson GMP Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC, NB, NS, PEI and NL. Additional administrative support and policy management are provided by PPI Partners. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.