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How much is the Home Owner Grant?

Blog by Diane Cardoso | April 26th, 2011

The Home Owner Grant was introduced by the BC Government in 1957 to help reduce the amount of school taxes paid by property owners.  To be eligble for the Grant, a property owner must be: a) a Canadian Citizen or Landed Immigrant and reside in BC, 2) the registered owner or eligible occupant of the home located with the Province, 3) living in the home as a principal residence.  Note:  The Grant does not apply to summer cottages, second homes or rental properties.  Eligible Home Owners must apply for their grant each year before the tax due date (July 1st). 
For 2010, the Basic Grant reduces property taxes for home owners under the age of 65 by up to $570.  The additional Grant for 65+ home ownners, eligible veterans and disabled home owners is $275 for up to a total of $845.
The grant is reduced by $5 for each $1000 of assessed value over $1,050,000 and is eliminated on homes assessed over $1,164,000.  For more information go to: www.sbr.gov.bc.ca/hog