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

UPDATE: Tsunami warning cancelled for coastal British Columbia

Warning issued following 7.9 earthquake off Kodiak, AK

Suspects in custody following mailbox break-ins

An extensive amount of stolen material was recovered.

Whispers and BETHS receive extension

After hours of debate, the groups will be permitted to remain in their Riverside Drive space.

Heinrich hired as CAO

Heinrich has been acting in the role since March 2017.

Power out, restored in some areas

While power is now on for some of the Boundary, as many as 2,000 may still be in the dark.

Tsunami warnings 101: Canada

Here are some things to know about tsunami alerts in Canada and how they work

Andrew Scheer on trade, Trump and Trudeau

Canada’s Conservative leader begins three-day visit to B.C.

Victims restrained, sex toys and cash stolen from B.C. adult store

Armed suspects sought in adult store robbery

Vancouver Islanders ponder need for tsunami siren song

Alarm sounds in Port Alberni but not at the DND base in Esquimalt

Babcock, Goyette and Smyth honoured at Order of Hockey in Canada

Mike Babcock, from Saskatoon, guided the Detroit Red Wings to a Stanley Cup in 2008

Bell Canada alerts customers who may be affected by latest data breach

Federal Office of the Privacy Commissioner said it had been notified

‘The tsunami alarm failed my household’: North Coast residents concerned over sirens, alerts

People living in northern communities share how they learned about Tuesday’s tsunami warning

Snowboarder dies at Vancouver Island ski resort

Death at Mount Washington Alpine Resort

Man faces 48 charges in string of random Toronto shootings

The string of unprovoked shootings began Jan.9, say police

Most Read