Property Taxes are typically due in July in BC, and the Home Owner Grant gives owners a break if eligible.

The eligible property value limit increased to $1.975 million in 2022.  Homeowners in Metro Vancouver, the Fraser Valley, and the Captial Regional Districts owning property valued at less than that amount may be eligible for a discount of up to $570 for the basic grant.  Homeowners aged 65 or older, individuals with disabilities, or those living with a relative who has a disability are eligible for a grant of up to $845.

In northern or rural areas (outside Metro Vancouver and the Fraser Valley and Capital Regional districts) homeowners can claim up to $770, and seniors or people with disabilities can claim up to $1,045 for their grant.

A grant reduction applies at $5 for every $1,000 over the threshold but low-income seniors, veterans, and people with disabilities can apply for a low-income grant supplement to replace the lost grant amount.

To apply for the grant, visit: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/home-owner-grant/apply or call Phone: Call 1 800 663-7867.  Service BC is available to assist with more complex applications.

The best time to apply is before your taxes are due, optimally in May, once you have both your BC Assessment and municipal tax notice in hand, but you can apply at any point in the tax year.  You may be able to apply retroactively for up to one year if you missed a year as well.

Feel free to contact me with any questions you may have regarding your property and financing, I am always pleased to help.

Adapted from BC’s Home Owner Grant website https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/home-owner-grant/apply

and

BC’s Article entitled “Home Owner Grant helps people with property taxes” found here: https://news.gov.bc.ca/releases/2022FIN0001-000004