Seniors Property Tax Deferral Program
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. Choose the option that best suits you.
The deferred portion of property tax is due and payable to the City of Saskatoon when:
- you transfer ownership;
- no longer reside in your home; or
- you sell your property.
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.
- 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 Statistics Canada data.
Review the 2023 Low-Income Cut-Off Figures (LICO) & family unit size chart below to learn if you qualify for this program in 2024
2023 Statistics Canada Low-Income Cut-Off (LICO) figures with family unit size:
|Size of Family Unit
|7 or more persons
|Total Household Income in 2023
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 your 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 Program does not apply to the Education portion of property taxes.
It's Easy to Apply!
- meet the income and residency requirement of the program; and
- submit your new application each year by October 31. 2024 Seniors Tax Deferral Application Form
Application forms are also available at the following locations:
- City Hall and other Civic Facilities (Leisure Centres and Libraries)
- Saskatoon Council on Aging Office, located in the Saskatoon Field House
- Or, contact us to have an application 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.