The city is changing its property tax rebate program to a deferral program, and increasing the amount allowed deferred
City of Niagara Falls trying to help seniors with their finances.
The city is changing its $102 water and $80 property tax rebate program to a $500 annual property tax deferral, starting next year.
Manager of Revenue Amber Ferguson says seniors would qualify regardless of any yearly property tax increases. "It would be an interest free loan, until the property is sold, ownership is transferred, or the threshold is exceeded. You must be in receipt of the Guaranteed Income Supplement, or the Ontario Disability Support Program."
The maximum length of the program is 10-years, but the outstanding amount will not be due at that time.
The city adds the balance of taxes are still due, or the deferral will be cancelled.
"This relief could effectively keep low income seniors, and low income persons with disabilities tax increases below the rate of inflation. And it's a deferral as opposed to a rebate, which is more equitable to all taxpayers. But, when the house is sold, the taxpayers will recoup that support."
Residents can apply to either the city or regional programs.
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