British Columbia Is Raising The Homeowner Grant Threshold To $1,650,000

British Columbia Is Raising The Homeowner Grant Threshold To $1,650,000

The grant in question is designed for property tax relief,it is in place to help home owners deal with increases in their property assessment and offers $570 to owners of properties worth less than $1.65 million.

The province has steadily increased the threshold over the last few years as the value of real estate has climbed, from $1.6 million last year and $1.2 million in 2016. The increases are meant to keep the same number of homes eligible for the grant that were eligible in the previous years it has operated.

According to the B.C government almost every home in every British Columbia community is valued below this new threshold.

Note that only properties that are used as the owners primary place of residence are considered to be eligible for this grant. The provincial government estimates that the grants will return over $825,000,000 to residents this year.

If you are interested in learning more about this or discussing it with one of our experts please give us a call at 604-379-2000

(604) 379-2000
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