Applicants must meet the following requirements to be eligible for a Tax Deferral - Clause 41A:
- A tax deferral allows elderly taxpayers (over age 65), with annual incomes of less than $30,000 to defer payment on all, or a portion, of their property tax.
- The amount of the deferral, together with 8% annual interest on the deferred amount, must eventually be repaid when the property is:
- The deferral becomes a lien on the property
- Transferred or upon the death of the owner
- This deferral is not an exemption.
A tax deferral should be considered when a taxpayer's current expenses make the continued ownership of his/her home difficult.