BC Government Raises Property Tax Homeowner’s Grant Threshold to 1.6M

Homeowners with properties worth under $1.6 million can now apply for discount on annual property tax, up from $1.2 million, after values have soared.  

The government said it will raise the homeowner’s grant threshold from $1.2 million to $1.6 million, which is a response to owners worried about losing hundreds of dollars in grant money to offset property taxes.

After the increase, the BC Government says about 83 per cent of residential properties in Metro Vancouver are assessed below the new $1.6 million homeowner grant threshold set by the BC government January 10, 2017.

Let me know if you have any questions on how this could affect you.