Photo: The Canadian Press
Properties in British Columbia valued at $ 1.625 million or less will be eligible for the Full Provincial Homeowner Grant in 2021.
Depending on the province, the threshold means that the same percentage of homeowners will continue to be eligible for the grant.
For properties that exceed the threshold, the grant is reduced by $ 5 for every $ 1,000 of the assessed value, however, some low-income seniors, veterans and people with disabilities may apply for a supplement that replaces any amount lost due. of their home’s value exceeding the threshold.
The grant amount for interior taxpayers in 2021 is set at $ 770 and up to $ 1,045 for homes located in northern or rural areas where the owner is 65 years of age or older or is a person with a disability. .
The Basic Homeownership Grant in Metro Vancouver, the Fraser Valley, or the Capital Regional Districts is set at a maximum of $ 570 and a maximum of $ 845 for persons 65 years of age or older, having disabled or living with a disabled parent.
In the meantime, the province says it is taking over the administration of the grant program in an effort to ease the burden on municipalities.
This means that homeowners applying for the grant will submit their applications directly to the province rather than to their municipal office.
The application process will open in May.