Home Owner Grant enhanced for low-income veterans

VICTORIA – The Province is proposing to enhance the home owner grant to assist more Canadian veterans with low incomes.  “This act of gratitude is a small token of thanks on Remembrance Day to all our veterans for their service and sacrifice,” said Premier Christy Clark. To pay tribute to the service and sacrifice of younger veterans who have served here at home as well as in foreign conflicts, British Columbia intends to provide an additional grant to help reduce property taxes for lower-income former members of the Canadian Forces by up to $275.  The home owner grant currently provides a maximum reduction in residential property taxes of $570 in the Capital Regional District, the Greater Vancouver Regional District and the Fraser Valley Regional District and $770 in other regions of the Province. Homeowners age 65 or over, some homeowners with permanent disabilities, and older veterans and their spouses may already be eligible for an additional grant of up to $275. But under existing rules, only some veterans of the Second World War or the Korean War and their spouses are eligible for the additional home owner grant. “To recognize those who have served their country and who now face income challenges, the Province is proposing to expand the home-owner grant so that low-income Canadian Forces veterans may be eligible for the additional grant amount, regardless of the conflict they served in,” said Finance Minister Kevin Falcon.

The proposed changes would create a further grant of up to $275 for low-income Canadian Forces veterans with more recent service in the event they do not already qualify as seniors or persons with disabilities. Details of the intended change will be announced in Budget 2012 and, subject to approval of the legislature, would take effect for the 2012 property tax year.