B.C. homeowner grant amounts unchanged from 2023
Posted January 2, 2024 10:27 am.
The B.C. government is reminding residential property owners they may be eligible for the homeowner grant, ahead of tax season.
Homeowners must use the property as their principal residence to be able to receive the break. Applications for the homeowner grant can be made on the provincial government’s website, at a ServiceBC centre, or by phone at 1-888-355-2700.
Applications can be submitted online any time during the tax year, though the province says the best time to do so “is after you receive your property tax notice and before your property tax due date.”
“If you apply before your property tax notice is available, your home owner grant application will remain in a pending status until your tax notice is made available,” the government explains.
In Metro Vancouver and the Fraser Valley, the grant could save you up to $570. Elsewhere, the province says people can save $770.
An additional grant is available for seniors, veterans, and people with disabilities. That grant is for $845 in the Metro Vancouver and Fraser Valley regions. The province says almost half a million seniors and over 15,000 people with disabilities received the grant last year.
Homes are phased out of the grant at $2.264 million in Metro Vancouver and the Fraser Valley. For the additional grant, they’re phased out at $2.319 million.
The reminder comes after BC Assessment released its 2024 data, with assessment notices set to arrive by mail in the coming days.
The assessments are based on market value as of July 1, 2023.
“It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,” explained assessor Bryan Murao.
