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BC Increases Home Owner Threshold

Grant now available to properties over $1M

The Government of British Columbia announced today that it was increasing the threshold for the Home Owner Grant program from $950,000 to $1,050,000, in accordance with its goal to ensure that 95% of homeowners in British Columbia qualify for the basic grant.

British Columbia’s 2008 assessment roll, released January 1st, has increased approximately 16% over the previous year. The Home Owner Grant helps owners who live in their homes offset the municipal taxes paid each July. The current basic grant is $570, and additional grants are available for seniors and the disabled.

-Tim Ayres – Sooke and Victoria BC Real Estate Expert