B.C. government increases homeowner grant limit as home values rise by 12 per cent

The government says in a statement that resetting the threshold from $1.975 million means about 92 per cent of residential properties will be eligible for the grant, which reduces property tax on a principal residence.

For homeowners in northern and rural areas, the basic grant is $770 or $1,045 for veterans, those with a disability or people over 65. The agency says that while some people may be worried about their taxes going up if they've had a large hike in the value of their home, the most important factor is how much the value has changed relative to the average increase of properties in their area.

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B.C. government increases homeowner grant limit as home values rise by 12% - BNN BloombergThe British Columbia government is boosting the homeowner grant threshold to $2.125 million for this year as average property values increase by 12 per cent.
Source: BNNBloomberg - 🏆 83. / 50 Read more »