Resources tagged with 'property tax help'

Aims to lower the cost of living for eligible older adults by offering to defer payment of property taxes on their principal residence. Upon acceptance into this program, annual property taxes are deferred. Taxation and Property Records will keep an accumulated total of taxes owing each year.

If the property owner dies or the property is sold, all deferred taxes become payable.

If continuing with the program for life, the accumulated taxes are required to be paid out of the estate. If the value of the estate is not sufficient to cover the amount of the accumulated taxes, the government will discharge any outstanding balance.