If you qualify for the B.C. Property Tax Deferment Program, you can defer your taxes as long as you own your home. The deferred taxes must be fully repaid, with interest, before your home can be legally transferred to a new owner, other than directly to your surviving spouse. If you refinance your home, your mortgage holder may require full repayment of the deferred taxes upon refinancing. You may repay all, or part of the deferred taxes and interest at any time without penalty.