- For 2016, the threshold increases to $1.2 million, up 9.1% from $1.1 million in 2015.
- Homes valued above the threshold may still be eligible for a partial grant. For properties assessed above the threshold, the grant is reduced by $5 for every $1,000 of assessed value in excess of the threshold.
- The grant is not provided automatically. Homeowners must apply every year. Applications are included with annual property tax notices.
- The grant is available to Canadian citizens and to landed immigrants who normally reside in B.C.
- The Province reimburses municipalities for the full cost of the home owner grant to ensure municipal revenues are not affected.
- The home owner grant program began in 1957.
For more information about the home owner grant, visit:www.gov.bc.ca/homeownergrant