Seniors Property Tax Deferral Program
Posted on Tuesday March 18, 2014 at 07:22PM
Senior homeowners looking for help paying their property taxes may wish to consider the Seniors Property Tax Deferral (SPTD) Program, which allows eligible senior homeowners to defer all or part of their property taxes through a low-interest home equity loan from the Alberta Government.
If you qualify, the Alberta Government will pay all or part of your property taxes on your behalf through a low-interest loan that is secured against your home equity. You then repay the loan with interest when you sell your house, are no longer eligible, or at any time you choose. The SPTD program is voluntary and homeowners must apply.
To be eligible, you must:
- be an Alberta resident, 65 or older
- own a residential property in Alberta and
- have a minimum of 25% equity in your home
Author: Town of Mundare