199 replies to this topic

[Tom Braybrook]

I went to fill out my form to pay my property taxes today and see that you can't just check the box to claim your homeowner grant--you have to contact the province and apply. It only took me a couple of minutes to fill out the online form. But I'm sure this has caused a bit of panic among non-computer owning seniors that leave their property taxes till the last minute.

if they applied last year, they could have selected the automatic re-application and not have to worry

[Tom Braybrook]

https://www.etax.gov.../eservices/_/#5

 

 

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[LJ]

https://www.etax.gov.../eservices/_/#5

You must continue to apply for your Home Owner Grant yearly with your property tax office.

 

 

 

if they applied last year, they could have selected the automatic re-application and not have to worry

So no.

[Tom Braybrook]

You must continue to apply for your Home Owner Grant yearly with your property tax office.

 

 

 

So no.

well...if you look at the original post, rob was talking about applying on the city form and that  then  you needed to also apply to the province - BUT - if the province part is automatic then;

 

well... 

 

so yes!:

 

BIG TEXAS FORUMER

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Posted Today, 06:46 AM

I went to fill out my form to pay my property taxes today and see that you can't just check the box to claim your homeowner grant--you have to contact the province and apply. It only took me a couple of minutes to fill out the online form. But I'm sure this has caused a bit of panic among non-computer owning seniors that leave their property taxes till the last minute.

 

 

 

 

 

 

Edited by tommy, 02 July 2021 - 10:15 PM.

[Rob Randall]

You don't apply at both levels of government; Saanich just tells you what the grant amount would be, the actual application is done at the Provincial level.

 

Was this discussed earlier? Am I the only one that didn't know about it? Did any last minute taxpayers get caught off guard?

[Sparky]

No

[Nparker]

...Was this discussed earlier? Am I the only one that didn't know about it? Did any last minute taxpayers get caught off guard?

I was a bit surprised by the change in HOG procedure this year, but I seem to recall hearing something about it a while back.

[spanky123]

I went to fill out my form to pay my property taxes today and see that you can't just check the box to claim your homeowner grant--you have to contact the province and apply. It only took me a couple of minutes to fill out the online form. But I'm sure this has caused a bit of panic among non-computer owning seniors that leave their property taxes till the last minute.

Who over 55 pays property tax?! Interest rate on deferrals is only 0.45%!

[Sparky]

^ The ones with bank mortgages.

[spanky123]

^ The ones with bank mortgages.

As long as your mortgage is less than 75% of value (IIRC) you should be golden. With price increases in recent years that should be most people unless they bought or refinanced recently.

[Rob Randall]

I thought deferrals were for desperate old people but a lot of middle-class folks I know are now doing it. Why not me?

[Sparky]

^ Have you ever stopped to think that you might not be middle class?

[spanky123]

I thought deferrals were for desperate old people but a lot of middle-class folks I know are now doing it. Why not me?

 

The Government is lending you money at 0.45%, you can put it into a high interest savings account and get 1.5%. No brainer. Sort of like how the banks borrow money from the Feds at 0% and then lend it to you!

 

If you are younger than 55 then just put a parent or grandparent on title to qualify. Closest thing to free money you are going to get.

[Rob Randall]

Better than a "high-interest" savings account would be putting a lump payment on your mortgage, at least that's the long term play, correct? If I put $15,000 on it over the course of five or ten years I could save a lot more than that on interest.

[Victoria Watcher]

put it toward anything than earns more than 0.45 or currently costs you more than 0.45.

Anything, really.

[spanky123]

Better than a "high-interest" savings account would be putting a lump payment on your mortgage, at least that's the long term play, correct? If I put $15,000 on it over the course of five or ten years I could save a lot more than that on interest.

Correct. That or even on RRSP or RESP would give you a better return. All I am saying is that a deferral is a gift that many people don’t take advantage of and it is no more effort to claim each year than the new HOG hoops.

[qv]

Not only is the interest rate low, it doesn't compound. I can't believe the Province will give you such a sweet deal. It's completely unfair to other taxpayers, but why wouldn't you take it if offered to you?

[Rob Randall]

Not only is the interest rate low, it doesn't compound. I can't believe the Province will give you such a sweet deal. It's completely unfair to other taxpayers, but why wouldn't you take it if offered to you?

 

I think because there might still be a stigma attached to it, like it's a charity program for the poor. And some seniors really hate the idea of being beholden to government--that when they die the government takes a big chunk of money out of the house--their children's inheritance. Of course these may not be rational reasons but some conservative old folk feel this way.

 

Myself, I don't want my heirs to think they've got a big real estate cash cow waiting for them when I kick off. 

Edited by Rob Randall, 03 July 2021 - 02:32 PM.

[Mike K.]

I’m hearing banks are now backing off the included property tax payment, and requiring homeowners to figure it out themselves.

In my first year they forgot to pay, and the muni sent me a letter with a big late fee. Went to the bank, and they said oops, yup we messed up.

Now multiply that by 5000 mess-ups and the bank is paying out a million bucks in late fees.

[Matt R.]

One year they paid twice!

Matt.