Property Tax Deferral

If you have lived in a Class 1 property for a year or more, and your tax is more than 10% higher than the previous year's tax, you may defer payment on the amount over the 10%.

To be eligible for the Property Tax Deferral Program, you must file an application and meet the following conditions:

• You must have owned your home for at least 1 year before the application date;
• You must have occupied the home for the 12-month period immediately before the application date;
• You must currently occupy the property;
• The current year's tax must be more than 10% higher than the previous year's tax;
• The total of all taxes deferred, plus annual interest of 8% accrued on the deferrals, must not exceed 25% of the property's assessment for the real property tax year in which the deferrals are provided.