The Province

Prov­ince will ad­min­is­ter all home­owner grants and sets this year's thresh­old at $1.625M

- TIF­FANY CRAW­FORD ticraw­ford@post­media.com Business · Tax Credit · Taxes · Society · Property Tax · British Columbia · Vancouver

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.

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