BC land tax deferment interest rate set at prime plus 2%, compounded monthly starting 2026
B.C. Reg. 75/2017 – Interest Rate Regulation, effective January 1, 2026 — under the Land Tax Deferment Act
Plain-language summary · AI-assisted · not legal advice
The Interest Rate Regulation under the Land Tax Deferment Act has been updated to establish how interest is calculated on deferred land taxes from 2026 onward. The interest rate is set at 2 percentage points above the government's principal banker's prime lending rate, and it resets every three months on January 1, April 1, July 1, and October 1. The specific rate for each quarter is based on the prime lending rate in effect on the 15th of the month immediately before that quarter begins. Interest compounds monthly and is calculated on the number of days since the last compounding, or since the interest start date if no compounding has yet occurred. Property owners who are deferring their land taxes under this program should be aware that their ongoing interest costs will now float with prime and adjust quarterly.
Who this affects: property owners deferring land taxes · homeowners enrolled in the BC land tax deferment program · seniors and qualifying individuals using tax deferral
Source of truth: B.C. Reg. 76/2026 on ontario.ca
Legislative text © King's Printer for Ontario. This page is not an official version of the law and is not legal advice. Verify against the official source before acting.
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