With the new year comes budget talks from municipal council officials and regional district directors.
This means, of course, they are starting to consider all the factors that will impact property tax rates for 2022.
On the heels of property assessment notices, which came out last week, the province has announced the homeowner grant threshold has been set at $1.97M for the 2022 tax year, “ensuring 92 per cent of residential properties are covered by the grant that lowers the amount of property taxes people pay on their principal residence.”
For the immediate region, the grant amounts remain unchanged from last year; up to $770, and up to $1,045 for homeowners 65 years or older, or if the homeowner is a person with a disability.
Homeowners may also be eligible for property tax deferment if they are 55 years or older or are financially supporting a dependent child.
The province took over full administration of the grant program in 2021 to ease the burden on municipalities.
The fastest and easiest way to apply for the home owner grant is on the B.C. government website. Last year, the majority of applications were made securely online or through interactive voice recognition.
Another bonus is that once filed, property owners can check their application status online. Homeowners with more complex situations can get help over the phone at 1.800.663.7867 or at a Service BC office.
The best time to apply for the grant is in May after property owners have received both their BC Assessment notice and their municipal property tax notice. Assessment roll and jurisdiction numbers are needed to apply.