Quote:
Originally Posted by Tapioca
If you're living in a bungalow and your parents are seniors, why don't they defer? They can defer in perpetuity (i.e. when they decide to sell or they die) and the interest rate is 0.7% per year which is nothing. If your family plans to keep the home until they die, then any estate sale will take care of the property taxes owing at that time. Or you can simply assume the title if they are willing the house to you and roll the taxes owing at that time into a new mortgage.
You can then direct that money you would have spent on property taxes and invest it in whatever you like and get triple the return in a conservative bond ETF or something similar.
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That is correct... spend your kids inheritance..lol
Also if your house is assessed for over I think 1.4 mill there is no home owners grant....
