WHEREAS research shows that many seniors quality of life is best served by maintaining independence and remaining in their own home for as long as feasible; and
WHEREAS seniors’ income is generally reduced upon retirement, and their property-related taxes continue to increase; and
WHEREAS property-related taxes, therefore, constitute an increasing percentage of the expenses of seniors who own their home, and may force them to sell that home before they would otherwise choose to do so; and
WHEREAS progressive jurisdictions (e.g. British Columbia, Denmark) have adopted programs that allow home-owning seniors to defer payment of property related taxes through a program of mortgaged-backed government loans; therefore
BE IT RESOLVED that a Liberal government consider adoption of a program whereby the government, through CMHC, pay property related taxes on behalf of home-owning seniors through a mortgage agreement; such mortgage plus simple, non-compounding interest to be reimbursed when they vacate or sell their home.
Senior Liberals’ Commission
National Women’ Liberal Commission