Property Tax and Planning For The Future

A quick reminder that BC property taxes are due by July 2, so now is a great time to encourage clients to review their payment plans and grant eligibility early.

Here are a few important conversations worth having with homeowners right now:

Home Owner Grant (HOG) & Senior Grant
Eligible clients could save $570+ simply by applying. Many homeowners still assume this is automatic. It’s not.

Property Tax Deferment Changes in BC
As of this year, deferment qualification rules and options have changed. Some homeowners may no longer qualify under the same terms, while others may want to reconsider whether deferment is still the best long-term strategy.

Equity & Cash Flow Planning Opportunities
For certain clients, especially retirees or homeowners managing rising costs it may make more sense to explore an equity take-out strategy such as:
• Reverse mortgages
• HELOC restructuring
• Refinancing options
• Equity preservation planning

These conversations can create huge value for your clients while also opening the door to future purchase, downsizing, and wealth-planning opportunities.

Also, for any clients buying or selling before July 2, make sure they speak with their lawyer or conveyancer early regarding who will be responsible for property taxes and grant applications on completion.

If you have clients wondering whether property tax deferment or accessing equity makes more sense for their situation, I’m always happy to jump on a strategy call and help you navigate the options.