B.C. chops $11 million from home owner grant

Lower threshold hikes tax bill for 18,000 homes assessed at values around $1.2 million

Some B.C. home owners have discovered they’re paying more in property tax this year because of a cash clawback by the provincial government.

The provincial finance ministry reduced the threshold to qualify for the full home owner grant toward property taxes from $1.295 million in 2013 to $1.1 million this year.

That means homes assessed between those two amounts have now lost some or all of the home owner grant they previously received, leaving a higher property tax bill to be paid.

Finance ministry spokesman Jamie Edwardson said the change reduces or eliminates the home owner grant for 18,000 property owners, or about 1.5 per cent of the ones previously eligible.

Just over 93 per cent of B.C. home owners now qualify for the grant, down from about 95 per cent last year.

Assessed property values decreased in many parts of the Lower Mainland over the past year, although not by anywhere near as much as the 15 per cent cut in the threshold for the home owner grant.

Edwardson said the reduced threshold “means we are able to direct approximately $11 million to other priority programs.”

He noted the province has low-interest loan programs that allow many home owners – including those over 55, people with disabilities and families with children – to defer some or all of their property taxes until they sell their home or it becomes part of an estate.

The home owner grant is worth $570 and is reduced by $5 for every $1,000 in assessed value over the threshold, meaning there’s no grant on homes worth more than $1.214 million.

Just Posted

Artists find showcase at Coast Collective gallery

Art from the Attic showcases forgotten treasures

Drop off your old branches in Colwood

Program helps keep city yards tidy

Premier John Horgan announces improvements to Highway 14

Construction on the $10 million project is set to begin immediately

Upgrades to Millstream overpass to begin Feb. 1

Project includes addition of left hand turn lane onto highway to Victoria

Victoria Grizzlies look to continue hot steak

Team hits the road this weekend before Family Fun Night

Monster trucks invade Victoria

Traxxas Monster Truck Tour stops at Save-On Foods Memorial Centre this weekend

UPDATE: BC Transit’s handyDart service strike delayed

LRB application by contractor means new strike notice must be issued by union

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

B.C. woman who forged husband’s will gets house arrest

Princeton Judge says Odelle Simmons did not benefit from her crime

Women’s movement has come a long way since march on Washington: Activists

Vancouver one of several cities hosting event on anniversary of historic Women’s March on Washington

Liberals’ 2-year infrastructure plan set to take 5: documents

Government says 793 projects totalling $1.8 billion in federal funds have been granted extensions

Workers shouldn’t be used as ‘pawns’ in minimum wage fight: Wynne

Comments from Kathleen Wynne after demonstrators rallied outside Tim Hortons locations across Canada

John ‘Chick’ Webster, believed to be oldest living former NHL player, dies

Webster died Thursday at his home in Mattawa, Ont., where he had resided since 1969

Most Read