Gov. B.C.
VICTORIA – British Columbia will raise the home owner grant threshold in response to significant increases in property values, Finance Minister Carole Taylor announced today. “British Columbia enjoyed another year with a booming construction sector, strong real estate market and increased investment in our economy,” said Taylor. “We also recognize property values continue to rise across the province and that’s why, for the fourth consecutive year, we will increase the threshold to assist B.C. homeowners with their property taxes.” The new threshold at which homeowners may be eligible to receive the full grant will be $950,000 in assessed property value, up from $780,000.
The Home Owner Grant Program reduces the burden of residential property taxes for eligible homeowners. The basic grant entitles a homeowner to a maximum reduction in residential property taxes of $570. An additional grant of $275 is available if the owner is over 65, or permanently disabled, or eligible to receive certain war-veteran allowances.
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