B.C. homeowner grant threshold raised to $1.65M

[Navtaj Chandhoke]

B.C. homeowner grant threshold raised to $1.65M

The basic homeowner grant is $570 and will be automatically calculated based on property tax notices. The amount rises to $770 if the home is in a northern or rural area; up to $845 for seniors and people with disabilities; and up to $1,045 for people who meet a combination of those criteria.

Only homes used as an owner’s primary residence are eligible for the grant.

[img]http://www.flipping4profit.ca/wp-content/uploads/2018/01/Apprenticeship-1-500×262.jpg[/img]

Seniors, people with disabilities and others earning a low income can also apply to supplement their grants that have been reduced or eliminated for 2018 due to a high assessed value, and people over the age of 55 or who are supporting dependent children can apply for a property tax deferment.

The province estimates the grants will return $825 million to homeowners in 2018, an amount that the government reimburses to municipalities.

BC Home Owner Grant

Submit your application to the office that sent your property tax notice.

[img]http://www.flipping4profit.ca/wp-content/uploads/2018/01/Governmentgrants-768×165.png[/img]

Only one qualifying owner can claim a grant for a property each year.

Grant amounts may be higher for homeowners who qualify as a senior, veteran or person with a disability. The homeowner who meets these qualifications must be the one who applies in order to receive the higher grant amount for that residence.

Anyone with your permission can apply on your behalf. However, if you pay your property taxes through your financial institution, your financial institution will not apply for the home owner grant on your behalf.

Separated Spouses

If you and your spouse are separated and living apart, you may be able to claim the home owner grant for each of your principal residences. You must have either a written agreement signed by both you and your spouse stating that you have agreed to live apart or a court order recognizing your separation.

Deceased Owner

You can apply for the home owner grant for a property that is still registered in the name of a deceased owner or in the name of the executor or administrator of their estate, if you meet the following requirements:

The deceased owner would have qualified for the home owner grant

The property is still your principal residence

When to Apply

Apply for the home owner grant when you receive your property tax notice.

Late payment penalties may apply if your application is not received by the office that sent you your property tax notice before the due date for your taxes. The grant is a form of payment towards your property taxes and it is considered a late payment if you apply late.

[img]http://www.flipping4profit.ca/wp-content/uploads/2018/01/WeBuyHousesCASH11-1-500×262.jpg[/img]

Required Documentation

Remember to include all required documentation with your application. If any additional documentation is required, the municipal or provincial office that sent your property tax notice will contact you.

How to Submit Your Grant Application

Your home owner grant application must be sent to the municipal or provincial office that sent your property tax notice. You can submit your application using one of the following options:

Online

Mail

In person

Online

The province and some municipalities allow you to apply for the home owner grant online.

If your property is located in a municipality, contact your municipality to find out if and how you can apply online.

Mail

Send your application by mail to the address provided on your property tax notice.

In Person

If your property is located in a municipality, you can drop off your completed application at the location(s) listed on your property tax notice. For more information, contact your municipality.

[img]http://www.flipping4profit.ca/wp-content/uploads/2016/03/FlippingFortune.jpg[/img]

If your property is located in a rural area, you can drop off your application at a Service BC Centre near you.

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