Property taxes? Defer them

Stop paying your property taxes if you’re short of cash.

That advice may sound a little extreme but that’s exactly what Vancouver-based certified financial planner Clay Gillespie is telling some of his clients.

“I do it all the time, it’s one way of getting equity out of your house,” says Mr. Gillespie, who is the managing director of Rogers Group Financial Advisors Ltd.

Given the price of homes in Vancouver, which now average $801,252, there be might be more than one Vancouverite struggling with a mortgage. “On a house here, $8,000 in tax is the norm,” the certified financial planner says.

Source: Financial Post