Tax benefit programs
Learn more about tax benefit programs:
You may also qualify for other programs such as:
Tax Benefit Programs for Homeowners
There are two tax benefit programs for homeowners. The Residential Property Tax Credit can give property owners a tax break on their principal residence. The Property Tax Allowance can give low income home owners an additional tax break.
If you own a property that is your principal residence, you could be eligible for a residential property credit. A principal residence is where you eat and sleep most of the time. This tax credit goes against the provincial portion of your property tax. You would still have to pay all of your municipal property tax.
To be eligible for the Assessment Gap (Permanent Assessment Exemption) and the Assessment Spike Protection mechanism, the Residential Property Tax Credit must be in place, effective January 1st, 2012. You only need to apply for the Residential Property Tax Credit once. You will continue to receive it for as long as you own and occupy the property. This program is divided into five categories:
Property Tax Allowance
The Property Tax Allowance gives a tax break to low income property owners. To qualify for the Property Tax Allowance, you must own your property, it must be your principal residence, and you must be receiving the Residential Property Tax Credit.
If you and your spouse have a combined taxable income of:
Tax Benefit Program for Farmers
Farm Land Identification Program
This program helps farmers keep their property for agricultural use by deferring provincial property tax on eligible farmland and outbuildings.
To be eligible for the program, the land must be in active use by an agricultural operation or be suitable for use by an agricultural operation.
Note: when a property registered in the Farm Land Identification Program is deregistered or withdrawn from the program by the assessed owner, the deferred taxes to a maximum of 15 previous years together with associated interest becomes due and payable.
To find out more, or to apply, please see Agriculture and Aquaculture/Farm Land Identification Program (FLIP)
Tax Benefit Program for Charitable or Not-For-Profit Organizations
Assessment Reduction Program
Depending on the use of the property, charitable or not-for-profit organizations can get a reduction in the value of the property – resulting in a lower property tax bill.
These activities must also be primarily funded through donations and volunteer efforts.
You must apply by September 30th of the current year to be considered for the following year.
Apply now for a tax benefit under the Assessment Reduction Program
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