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

Road safety plan in the works for Surrey

Council to consider hosting ‘Vision Zero’ summit in new year

VIDEO: Hundreds of volunteers collect, wrap toys in Surrey at Sikh elementary school

Guru Nanak Free Kitchen, Sikh Academy partner together on annual toy drive

City of Surrey looks to reduce building permit wait times

Staff targeting a 10-week average processing time

Surrey considers 75% discount on senior rec passes, drop-in admission

Council to vote Monday on proposal to deeply discount rates for residents over 70

‘A promise is a promise’: Cloverdale lantern festival opens, two months late

After months of delays due to permit issues and uncooperative weather, Art of Lights finally opens

Trudeau to make it harder for future PM to reverse Senate reforms

Of the 105 current senators, 54 are now independents who have banded together in Independent Senators’ Group

5 tips for self-care, mental wellness this holiday season

Ministry of Mental Health and Addictions urging British Columbians to prioritize self care through festive season

Rescued B.C. cat with misshapen legs in need of forever home – with carpet

Mirielle was born with misshapen back legs and after a tough life on the streets, is looking for a forever home.

VIDEO: Craft growers will add to recreational market, cannabis producer says

Two B.C. men say their expertise in running small legal medical grow-ops a benefit to recreational market

World Sikh Organization demands Canada prove Sikh extremism is a threat

Sikh community says this is first time such extremism has been mentioned in federal terror-threat assessment

Risk of catching the flu increasing in B.C. this holiday season: BCCDC

Dr. Danuta Skowronski with the BC Centre for Disease Control says influenza will pick up during the holidays

Boeser has 2 points as Canucks ground Flyers 5-1

WATCH: Vancouver has little trouble with slumping Philly side

Man dies after falling from B.C. bridge

Intoxicated man climbed railing, lost his balance and fell into the water below

Hundreds attend Hells Angels funeral in Maple Ridge

Body of Chad John Wilson found last month face-down under the Golden Ears Bridge.

Most Read

l -->