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

Langley City’s van den Broek will run for mayor

The mayoral race in Langley City is officially underway.

VIDEO: Volunteers wanted in Langley

A volunteer fair is rounding up recruits for worthy local causes.

WATCH: Langley’s Hunter Park comes back to life

After a tree disease decimated the park, a new planting effort was held Saturday.

Truck rolls in Walnut Grove

The occupants were not seriously hurt.

Letter: Many funders of new Langley Hospice centre

The Langley Hospice Society wants to clarify who “owns” hospice.

VIDEO: Largest LEGO exhibition in British Columbia held at River Rock Casino

Hundreds of builders come from around the world to display their LEGO creations

Hockey for Humboldt charity game Friday

Event in Maple Ridge will benefit bus tragedy victims

Austin Powers ‘Mini-Me’, Verne Troyer, dies at 49

Facebook page confirmed his death Saturday afternoon

Alberta man dead after snowmobile collision on B.C. mountain

The incident occurred on Boulder Mountain Friday morning

B.C. 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

Sunset Beach Park to close for 10 weeks to repair damage from 4-20 event

Vancouver Parks Board said a fence will be placed around the damaged field for ‘major rehabilitation’

16 of 20 fastest improving B.C. schools are public: Fraser Institute

Independent elementary schools remain at top of the chart in think tank’s annual report card

Police probe cause after skateboarder dies in collision with semi-truck

New Westminster police say its not certain whether the skateboarder was in crosswalk or near it

NAFTA: Talks continue through weekend in scramble to get a deal

Foreign Affairs Minister Chrystia Freeland called negotiations ‘perpetual’

Most Read