Seniors Property Tax Deferral Program
What is the Property Tax Deferral Program for
Low-Income Senior Citizen Homeowners?
The Property Tax Deferral Program for Low-Income Senior Citizen Homeowners may help you manage increasing monthly expenses, allowing you to stay in your home longer. The tax deferral program offers various options to defer payment of all, or a portion of your annual municipal and library taxes. You may choose the option that best suits you.
When you transfer ownership, no longer reside in, or sell your property, the deferred portion of property tax is due and payable to the City of Saskatoon. Choosing to defer payment of all, or part of the municipal and library taxes for the tax year will not complicate the sale of your home, or the transfer of your property title.
How the Property Tax Deferral Program Works:
If you choose to defer payment of all - or a portion of your annual municipal library taxes for the tax year, the program offers you four tax deferral options.
You may choose the deferral option that best suits you:
1. Choose to defer payment of the FULL AMOUNT of your municipal and library property taxes for this tax year.* Your benefit: may be greater than $100/month, based on your property assessment.
2. Choose to defer payment of $1200 of your municipal and library property taxes for this tax year.* Your benefit: $100/month
3. Choose to defer payment of $600 of your municipal and library property taxes for this tax year.* Your benefit: $50/month
4. Choose to defer only the incremental increase to you municipal and library property taxes for this tax year. This option freezes your annual municipal and library taxes for as long as you qualify for the program.
*When you choose Option 1,2, or 3 an interest charge of 4% will be added annually to the deferred tax amount.
Note: The Tax Deferral Progam does not apply to the Education portion of property taxes.
Applicants must be:
- 65 years of age or older; and
- Own and reside in a single family home, townhouse, or apartment condominium in Saskatoon (this must be your principal residence); and ,
- Meet the income requirement of the program. The income requirement for this program is based on the total income of all individuals who live at the residence, and varies year to year based on data from Statistics Canada.
- View the family unit size and the 2017 Statistics Canada Low-Income Cut-Off (LICO) figures below:
|Size of Family Unit||1||2||3||4||5||6||7 or more persons|
|2017: Total Household Income||$21,487||$26,748||$32,884||$39,926||$45,282||$51,073||$56,861|
It's Easy to Apply!
The 2017 Application form will be available online, and also at the following locations in June, 2017 once the LICO figures are updated by Statistics Canada:
- City Hall and other Civic Facilities (Leisure Centres and Libraries)
- Saskatoon Council on Aging Office, located in the Saskatoon Field House
- You may also contact us and an application may be sent to you by mail
Frequently Asked Questions
Q. Am I able to defer the education portion of my property taxes on this program?
A. No. The deferral program only applies to your municipal and library taxes each year.
Q. Will I pay any interest on the amount of property tax I choose to defer?
A. Yes. A 4% annual interest charge is added to your deferred tax amount for
Options 1, 2 or 3. Option 4, choosing to defer only the incremental increase to the municipal and library property taxes, will not have interest applied.
Q. Will there be a registration and/or a lien fee applied to my tax deferred amount?
A. Once the accumulated deferred tax amount is $200 or greater, a lien will be registered on your property with ISC (Land Titles) and a one-time registration fee of $90 will be added to your deferred tax amount.
Q. What is the process if I no longer live in my home, sell my home, or transfer ownership of the property title?
A. The City must be notified within 60 days if you no longer reside at the property address, or when the property is sold. The total deferred tax and charges are then due and payable to the City.
Q. If I choose to defer payment of all, or a portion, of my municipal and library taxes, will it complicate the sale of my home or when I transfer property title?
A. No. The deferred portion of property tax is due and payable to the City of Saskatoon when you transfer ownership, no longer reside in, or sell your property.