BC Homeowner Grant Threshold Raised to $1.65M

housing tax

Provincial Government Increases Homeowner Grant Threshold

BC Assessment values have increased, but the vast majority of homeowners in the province will still be eligible for the 2018 homeowner grant this year, as the provincial government has raised the threshold for the grant to $1.65 million, up from $1.2 million last year in 2016.

Any property owner with a home valued under $1.65 million will be eligible for a $570 basic homeowner grant.

In order to claim the grant, a home must be the owner’s principal residence.

The basic grant is $570. It rises to $770 if the home is in a northern or rural area, and $845 for homeowners who are 65 years or older, or the homeowner is a person with a disability. That increases to $1,045 for homeowners who are 65 years or older or have a disability if the home is in a northern or rural area.

Approximately 91% of homeowners across BC will be eligible, about the same number as were eligible last year.

Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

Related Posts

Copyright© 2018 your HomeTeam ™. All rights reserved.
Website Design and Internet Marketing by Guaranteed SEO