Once you receive your property tax notice, you may be able to apply to the Province of BC for a low interest loan to pay the current year property taxes on your principal residence.
Take the stress out of paying your taxes and set up monthly prepayments. After you have paid your current property taxes, you can set up monthly prepayments for next year's tax bill.
Simple interest will be paid on your prepayments each month at the Royal Bank prime rate less three per cent (minimum 0.4 per cent), and is credited to your property tax account. This interest is considered a tax discount by Canada Revenue Agency and is tax free.