Homeowners should have received their BC Property assessments in the mail. Your property’s assessed value will be as of July 1, 2017. You can view the assessment value of all BC homes on the BC E-Assessment Website.
It is important to remember that an increase in your property assessment does not mean that your property taxes will increase by the same amount (i.e. an assessed value increase of 15 per cent doesn’t mean your property tax is going to increase by that same 15 per cent).
Certain homeowners will qualify for the homeowner grant. The regular grant amount for people under the age of 65 is $570 in the Capital Regional District, Greater Vancouver Regional District and the Fraser Valley Regional District. For all other areas of the province, the amount is $770.
If you are a senior (aged 65 or older), a veteran, or a person with a disability, and you meet certain requirements, you may be eligible for an additional grant of $275 on top of the regular grant.
Additionally, the government of B.C. has increased its homeowner grant threshold from $1.2 million to $1.65 million.
The deadline to apply for the home owner grant without late payment penalties is July 4th.