BC FORUM News - from the COSCO BC Newsletter, March /April 2021

Re: Property Tax Assessment,  Property Tax Payments, Property Tax Deferment and Claiming your Home Owner Grant

Posted June 10, 2021

BC Assessment of homes recently produced their data based on values of July 2020.  You can look up assessed values at www.bcassessment.ca and see a map of the area to compare nearby residences.

The Home Owner Grant threshold for 2021 has been announced at $1,625,000 which ensures the percent of BC homeowners eligible remains similar to last year. The grant is reduced by $5 for every $1,000 of assessed value above the threshold. Some low-income seniors, veterans and people with disabilities can also apply for a supplement that replaces any grant amount they lose due to the value of their home being over the threshold.

The grant for 2021 for the Basic Home Owner Grant is up to $570.00. For Homeowners aged 65 and older, the grant is up to $845. Larger grant amounts are available for northern or rural areas (beyond Metro Vancouver, the Fraser Valley Regional District and the Capital Regional District).

For more info: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/home-owner-grant

Homeowners may also be eligible for Property Tax Deferment if they are 55 years or older or are financially supporting a dependent child. For info. https://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/defer-taxes

NOTE  New this year, the provincial government will now administer this funding instead of municipal offices. 

Above info. provided by Barb Mikulec, Vice-President the Council of Senior Citizens' Organizations of BC (COSCO) and Chairperson of COSCO Housing Committee.  Appeared in COSCO News, March/April/2021