City Launches Property Tax Deferral Program to Support Older Adult Homeowners

The City of St. Catharines is taking steps to support older adult homeowners with their property taxes through the launch of its new Older Homeowner Tax Increase Deferral Program.

Eligible homeowners, aged 65 and older, can now defer the increase in the City portion of their property taxes, providing financial relief by allowing them to delay payment on any year-over-year tax increases. The program is designed to assist older residents who may be on fixed incomes and facing challenges in keeping up with the rising cost of living.

“Supporting our older residents as they age in place is a priority for us,” said Chief Financial Officer, Director of Financial Management Services and City Treasurer Kristine Douglas. “This tax deferral program offers relief to those who may need it most, allowing them to remain in their homes without the burden of worrying about increased property tax payments.”

Under the program, older homeowners will be able to defer increases in City property taxes beyond their 2023 tax amount, with the deferred amount subject to a lower interest rate of five per cent annually. The deferral continues until the property is sold, transferred, or until the homeowner opts to end participation. 

Key Program Details

• Eligibility: Homeowners must be 65 years of age or older and meet income requirements. The property must be their principal residence, and the property tax account must be up to date prior to enrolment.
• Deferred Amount: Any increase in the City portion of property taxes over the enrolment year can be deferred.
• Interest Rate: A reduced interest rate of five per cent per year will apply to deferred taxes, compared to the usual 15 per cent.
• Lien on Property: Deferred amounts represent a priority lien on the property whether actively registered against the title or not, and the deferral will continue until the property is sold, transferred, or the homeowner chooses to withdraw from the program.
• Application Fee: A $50 fee will apply upon submission of an application.

Eligible homeowners can apply now, with the first deferral amounts being applied to the interim tax instalment in 2025. Applications to defer any increase in 2024 City property taxes will be accepted until Dec. 31, 2024. Applications will reopen annually when the City issues final residential property tax bills each year.

The City encourages residents to consult with a financial advisor before applying to ensure they fully understand the impacts of deferral, including its effect on any property tax-related credits and future financial planning.

For more information on the Older Homeowner Tax Increase Deferral Program, to check eligibility, and to apply, visit stcatharines.ca/TaxDeferral.