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

Dix says B.C. remains focused on fighting youth overdoses in wake of teen’s death

Elliot Eurchuk’s parents say he died at his Oak Bay home after taking street drugs

Parents grieving teen’s overdose death say it started with opioid prescription

Elliot Eurchuk, 16, died at his Oak Bay home Friday, after taking street drugs

New club started for miniature horses in Sooke

Small animals are ‘incredible pets’

Pipeline project protesters stage morning event outside CRA office

Intersection is also busy with ongoing construction activity, caution advised for drivers

Saanich homeowner feels harassed over unsightly premises dispute

Staff recommending council declare the items on Whiteside Road property be declared a nuisance

Turbulent times for outgoing B.C. Lieutenant Governor

Judith Guichon ends term today, returns to Nicola Valley ranch

NHL playoffs weekly roundup

Maple Leafs look to stay alive tonight as they face elimination against Boston on home ice

Electric vehicles more affordable than you think: BC Hydro

Myths blocking road to electric vehicle adoption

Kinder Morgan bungled pipeline public relations: poll

The survey suggests 58 per cent of Canadians believe the company is to blame for poor perceptions

Plane makes a surprise landing on the Coquihalla

Social media was alive Sunday night with pictures from Coquihalla commuters.

Royal baby: It’s a boy for Kate and William

The Duchess of Cambridge has given birth to her third child, a boy weighing 8 pounds, 7 ounces.

Scientist warns of declining biodiveristy in Saanich

Saanich residents can learn more about the local effects of climate change… Continue reading

Central Saanich, Tsawout taking part in reconciliation ceremony

Blanket event Monday to help foster mutual trust and respect

Most Read