Reminder: Homeowners now need to apply to the provincial government for the Home Owner Grant

This is a good time to remind clients that Home Owner Grant applications are no longer being processed by municipalities. As previously announced in NewsReal, starting this year, the provincial government will be administering the provincial program.

The Home Owner Grant helps to reduce the amount of property tax eligible British Columbians pay on their principal residence. The regular grant amount is $570 for properties in the Metro Vancouver, Fraser Valley and Capital regions. For all other areas, the amount is $770.

If a property is assessed at $1,625,000 or less and a homeowner meets certain criteria, they could receive the full regular grant amount. Properties assessed over that value may receive a partial grant. Property owners must pay at least $350 in property taxes to help fund services such as road maintenance and police services. The amount payable may be less for seniors, veterans, or people with disabilities.

When to apply:

The ideal time to apply for the Home Owner Grant is when the May 2021 property tax notice has arrived in the mail and before the property tax is due. However, a homeowner can still apply for the grant up to December 31 of the current tax year and can apply even if they haven’t paid their property taxes.

How to apply:

The fastest and easiest way to apply for the Home Owner Grant is online. Residents can also apply by calling 1.888.355.2700.

Source: FVREB Communications