Home Owner Grant Threshold Raised

Friday, January 11, 2008 10:12 AM

In view of the rising values of B.C. homes, the provincial government has announced it will increase the homeowner grant threshold. announced

The new threshold at which homeowners may be eligible to receive the full grant will be $1,050,000 in assessed property value, up from $950,000. Residential property values in British Columbia, including new construction, have increased by 16 per cent over the past year.

The Home Owner Grant Program reduces the burden of residential property taxes for eligible homeowners. The basic grant entitles a homeowner to a maximum reduction in residential property taxes of $570. An additional grant of $275 - for a total of $845 - is available if the owner is over 65, or permanently disabled, or eligible to receive
certain war-veteran allowances.

Previous Story - Next Story

Email |

Print |

Facebook |

Twitter |

Digg |

Del.icio.us

Posted on Friday, January 11, 2008 10:12 AM in News by 250 News

Return to Home

Comments

Posted by: Jimmi on January 11 2008 11:47 AM

I'd prefer it if they raised the grant not the threshold...

Posted by: lunarbase on January 11 2008 12:16 PM

So they lessen the burden of the home owner tax by using money that they got from taxing the home owner ? What a great system !

Posted by: Chester on January 12 2008 10:30 AM

So, my property value increased 30%. Show me how I have more money to pay my taxes with? There are only two times when my house has a value, the day I bought it and the day I sell it. (One exception would be if I refinanced it and took out some of the new found wealth I suppose)

At least someone realized that property values and tax assessments need to be modified. Chester