BC Assessment says the average single family home in Kimberley is valued at $266,000 as of July 1, 2017.

Province raises threshold for homeowner grant to $1.65 million

Eligible homeowners must apply for the grant each year. To be eligible, the home must be used as the owner’s principal residence

Following on the heels of 2017 property valuations released by BC Assessment, the Province announced today it is again raising the homeowner grant threshold, albeit slightly.

The 2018 grant has been raised to $1.65 million, ensuring the same percentage of British Columbians homes are below the threshold as in 2017. Last year’s threshold level was raised $400,000 to $1.6 million.

Eligible homeowners will still need to apply for the grant each year, and the home must be the owner’s principal residence in order to qualify. If approved, the grant will be automatically calculated on your property tax notice.

READ MORE: 2017 BC Assessment values now available online

Depending on your age and where you live, the homeowner grant can vary:

  • $570 for the basic homeowner grant
  • $770 if the home is located in a northern or rural area
  • Up to $845 for homeowners who are 65 years or older, or the homeowner is a person with a disability
  • Up to $1,045 for homeowners who are 65 years or older, or the homeowner is a person with a disability if the home is in a northern or rural area

Other low-income owners, such as seniors or those with disabilities, can apply to supplement their grant if it’s been reduced or eliminated due to a higher assessed home value.

Homeowners may also be eligible to defer their property tax if they are 55 or older, or are financially supporting a dependent child.

READ MORE: 67,000 homeowners get early-warning assessment notice

According to the Province of B.C., they will reimburse municipalities for the full cost of the grant to ensure local revenues are not affected. Homeowner grants will return an estimated $825 million to British Columbians this year, and in the majority of communities, almost every home is valued below the threshold.

Signature:



ragnar.haagen@bpdigital.ca

Like us on Facebook and follow us on Twitter

Just Posted

Gardening: Autumn planters 101

Many growers have tapped into to that autumn urge for fresh flowers.

LETTER: Memorialize Pete by continuing to show compassion

Outpouring of emotion at passing of homeless man in Maple Ridge

‘Unhappy campers’ protest booking system

Golden Ears park going 100 per cent online reservation in 2019

Barn swallow nest closes busy Pitt Meadows road

Harris Road closure at Katzie Slough to continue until Oct. 12

Flames beat Whalers 5-0 in Maple Ridge

Rookie hometown boy Clark gets his first shutout

Conservation officer frees B.C. deer from flotation gear mishap

BC Conservation Officer Service is reminding residents to keep backyards clear of entanglements

Lions earn stunning 35-32 OT win over Ticats

Epic comeback lifts B.C. past Hamilton in CFL thriller

Czarnik nets 3 as Flames dump Canucks 5-2

Calgary picks up exhibition win over Vancouver

Ottawa to name new ambassador for women, peace and security, Freeland says

Chrystia Freeland also confirmed Canada would spend about $25 million to fund number of initiatives

‘A little bright spot:’ Ottawa residents rescue dog trapped beneath rubble

Freelance journalist says rescue of a dog trapped under rubble was happy ending amid chaos in Ottawa

B.C. deaf community wants different sign languages on federal accessibility act

Advocates also want Indigenous Sign Language to be recognized on the Indigenous Language Act

Remainder of Vancouver Whitecaps season filled with ‘must-win’ games: coach

With Vancouver currently sitting four points out of a post-season spot, each contest is crucial

VIDEO: B.C.-born firefighter remembered by MP in emotional speech

Family asks first responders to look after one another in wake of suicide, growing concerns of PTSD

Airline has ‘close call’ with drone while en route to B.C. airport

Jazz Aviation reported the drone sighting near Vancouver to the RCMP and Transport Canada

Most Read