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Threshold set for B.C.’s home owner grant program

DCN-JOC News Services
Threshold set for B.C.’s home owner grant program
PROVINCE OF B.C. — B.C. officials have set the threshold for its Home Owner Grant program. The province also will be taking over the administrative duties of running the program from municipalities.

VANCOUVER, B.C. — The Province of B.C has set the threshold for the 2021 Home Owner Grant threshold at $1.625 million.

Officials noted the threshold is meant to ensure the same percentage of British Columbia homeowners continue to be eligible for the grant.

The grant is reduced by $5 for every $1,000 of assessed value above the threshold. Some low-income seniors, veterans and people with disabilities can also apply for a supplement that replaces any grant amount they lose due to the value of their home being over the threshold.

2021 will see the province fully take over the grant program from municipalities. The province already administers the grant for rural homeowners.

Homeowners in all municipalities will now submit their applications directly to the province instead of through their municipal office. Applications will open in May when a majority of property tax notices are received.

Officials urged homeowners to keep their property assessment notice from BC Assessment or property tax notice from their municipality. They will need their jurisdiction number from their notice to apply for the Home Owner Grant with the province.

The grant amounts for 2021 for homeowners in Metro Vancouver, the Fraser Valley Regional District and Capital Regional District are:

  • up to $570 for the basic Home Owner Grant; and
  • up to $845 for homeowners who are 65 years or older, or the homeowner is a person with a disability or lives with a relative who has a disability.

The grant amounts for 2021 for homeowners located in a northern or rural area (outside Metro Vancouver, the Fraser Valley Regional District and the Capital Regional District) are:

  • up to $770; and
  • up to $1,045 for homes in northern or rural areas where the homeowner is 65 years or older, or the homeowner is a person with a disability.

Homeowners could be eligible for property tax deferment if they are 55 years or older or if they have a dependent child.

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