Province will administer all homeowner grants and sets this year's threshold at $1.625M
The B.C. government is taking over administration of homeowner grants from mu n i c i p a l i t i e s, a n d announced Tuesday that this year's grant threshold is set at $1.625 million.
The province already administers the grant for rural homeowners. Homeowners in all municipalities will now submit applications to the B.C. government instead of their municipal office.
Applications will open in May when a majority of property tax notices are received.
The B.C. Finance Ministry is reminding homeowners to keep their property assessment notice or property tax notice from their municipality because they will need their roll and jurisdiction number to apply for the grant.
The grant is reduced by $5 for every $1,000 of assessed value above the threshold. Some low-income seniors, veterans and people with disabilities can also apply for a supplement that replaces any grant amount they lose because the value of their home is over the threshold.
The grant amounts for 2021 for homeowners in Metro Vancouver, and the Fraser
Valley Regional and Capital Regional districts are up to $570 for the basic grant, and up to $845 for homeowners who are 65 or older, or if the homeowner or a person they live with has a disability.
For northern or rural areas, the grants are up to $770, or up to $1,045 for homes where the homeowner is 65 years or older or the homeowner is a person with a disability.
Homeowners may also be eligible for property tax deferment if they're 55 or older, or are financially supporting a dependent child.