BC · Amendment
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
Recorded date: May 5, 2026
Detected: July 10, 2026. Verify commencement in the official source.
Plain-language summary · AI-assisted
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
Check the official text
B.C. Reg. 76/2026 on the official source ↗
This page isn't an official version of the law and isn't legal advice. Summaries may omit details. Verify the dates and provisions that apply to you against the official source.