Homeowners in British Columbia whose property is assessed at a value at just under $2 million will still be eligible for the annual homeowner grant.
The BC Government states that the increased threshold means that 92% of residential homeowners will be eligible for the basic grant. The basic grant, for those who own and live in their home in the Fraser Valley, is valued at $570, with an additional grant amount of $845 for those over age 65 or with a disability.
The homeowner's grant reduces the property tax payable, for eligible homeowners.
This is good news for homeowners from North Delta, Surrey, Langley and Abbotsford, as these communities saw skyrocketing prices in 2021.
See a news story below: