The Saskatchewan NDP has pledged that, if elected, it will help seniors with property taxes, allowing them to stay in their homes longer.

NDP Leader Cam Broten made the announcement in Saskatoon on Friday morning.

"Many seniors own their homes, but they live on fixed incomes that don't give them a lot of breathing room to pay their bills," Broten said in a news release.

"Giving seniors the choice to defer their property taxes will free up thousands of dollars for them every year."

NDP Leader Cam Broten

NDP Leader Cam Broten made the announcement on Friday Morning at TCU Place. (Dan Zakreski/CBC)

The plan would allow homeowners aged 65 and older, with at least 25 per cent equity in their home, to defer all or part of their property taxes through a low-interest home equity loan from the provincial government.

The loans would be repaid when the property is sold, making it easier for seniors to stay in their home for as long as they want, according to Broten.

The anticipated annual cost is about $2.5 million. It was included in the full election platform released by the NDP on Thursday. 

The NDP also pledged to deliver an income tax cut to 70 per cent of the province's households and provide more affordable utility rates.

Saskatchewan Party says there's 'some merit' to the idea

In response to the NDP proposals, the Saskatchewan Party, which won the previous two provincial elections, said there is potential in the idea.

"I just think that there's some merit to this," Leader Brad Wall said at a Sask. Party announcement in Saskatoon. "We've looked very carefully to that idea of allowing seniors to use that equity in their homes and we will have more to say about it."

Wall added the Sask. Party has made many strides over the years when it comes to making life more affordable for seniors. He pointed to the personal care home benefit and said the Sask. Party government tripled funds to the senior's income plan. 

"I think the best indicator of future behaviour is past behaviour," Wall said.

When the NDP were in government, they closed 1,200 long-term care beds, Wall said.

Voters go to the polls on April 4.