The government of Saskatchewan is giving seniors a break.
The new Seniors Education Property Tax Deferral program, launched on April 10th, gives Saskatchewan seniors the opportunity to defer the education portion of their taxes on their home on a repayable loan.
In order to be eligible to do this, seniors must have an income under $70,000, live in and own property in Saskatchewan and be older than 65.
Those who are eligible can apply at any point, and if approved, will remain in the program with the ability to opt out at their choosing.
The loan is repayable without penalty, and must be paid when seniors no longer live in, sell, transfer ownership of their homes or no longer meet the conditions of the loan.