Provincial posted Jan 5, 2022 @ 07:30pm by Cheyanna Lorraine

BC's 2022 Homeowner Grant threshold set at nearly $2M

BC homeowners whose homes are valued at under $2 million continue to be eligible for the 2022 Home Owner Grant.

The Government of British Columbia has announced that the threshold for the grant is set at $1.975 million.

Homeowners in Metro Vancouver and the Fraser valley and Capital Regional districts may be eligible for $570 for the basic grant and homeowners 65 and older or people with disabilities may be eligible for up to $875.

Homeowners living in northern and rural areas may be able to apply for as much as $770 or $1,045 for seniors or people with disabilities.

<who> Photo Credit: 123rf </who> Stock picture.

According to the news release, the grant will ensure “92% of residential properties are covered by the grant that lowers the amount of property taxes people pay on their principal residence.”

The release continues and explains that the best time to apply for the grant is in May after people have received both their BC Assessment notice and their municipal property tax notice.

BC’s 2022 property assessments were made available earlier this week.

Send your comments, news tips, typos, letter to the editor, photos and videos to [email protected].