Property Tax Deferral

Dear Hannah,

We own our home, the mortgage is paid but in the last 10 years our taxes have increased dramatically. We are beginning to feel squeezed financially. Should we defer our property taxes?

– Thinking about property tax deferral

Dear Thinking About Property Tax Deferral,

The short answer is Yes. The number of seniors in B.C. who deferred their property tax in 2017-18 has grown by 53 per cent in four years. The total amount of tax deferred last year was $208.8 million. 81 per cent of seniors are homeowners. The money saved by deferring taxes is being used by seniors to support themselves and maintain their independence in their own homes by hiring more help around the house.

Deferred taxes are payable once the property is sold. The Property-Tax Deferment Program (https://bit.ly/2VFPos7) is open to an eligible homeowner aged 55 and older, as well as their surviving spouses and persons with disabilities. The interest rate is extremely low (1.45%). It’s accumulated at a simple rate that is measured on the principal and not at a compound rate that is the principal and added interest.

Don’t worry about saddling your children with a big bill. If the house is worth $3 million and they have to pay $100,000 in taxes, it’s no big deal for you to live a better and healthier life.

Jewish Food Security Task Force

Dear Hannah,

As a single, 78 year-old woman, my financial situation is precarious. I have a hard time making ends meet. The price of things keeps going up, I have had to use the Jewish Food Bank services from time to time. Sometimes I skip taking my medications. Do you have any news about the Vancouver Jewish Food Security Task Force?

– Worried about my low income and food security

Dear Worried about Food Security,

The report of the Task Force (December 2018) was encouraging. They recommended

1. A full time Jewish Food bank coordinator (was ½ time),
2. A full time business development position (new) and
3. The lease or purchase of a van or truck for food delivery (new).

These changes will increase the quality of life for the clientele and the quality of engagement with the Jewish community.

We at JSA are advocating for better accessibility, expanded hours of operation and the need for a permanent new location.

However, these are short term goals. They do not discuss improved income support from the government. These changes risk entrenching the Food bank as an ongoing permanent institution with a long term life expectancy. JSA is advocating for a decrease in the need for Food Banks and the elimination of Food Insecurity. Please read Tony DuMoulin’s Report on the recent Federal and Provincial changes in low-income seniors’ financial situation in this magazine on page 26. You can read the full report at:

https://www.jfsvancouver.ca/wp-content/uploads/2019/04/FoodSecurityReport_FINAL.pdf