BC Homeowner Grant Threshold 2023
The threshold is set at $2,125,000 for 2023, and you may be able to claim the full regular grant amount if your property is assessed or partitioned value of $2,125,000 or less. Properties assessed over that amount may receive a partial grant.
The B.C. government says 92 per cent of homeowners in the province are eligible for the B.C. Home Owner Grant in 2021.
The BC homeowner grant threshold is subject to change, as it is reviewed each year depending on the provincial budget.
Regular BC Home Owner Grant 2023
The regular grant is $570 and is for residents in the Capital Regional District, Metro Vancouver Regional District and the Fraser Valley that are under the age of 65.
For all other areas of the province, such as northern or rural areas, the amount is $770.
The homeowner grant in BC is a grant for homeowners that helps to reduce the amount of property taxes that you pay for your principle residence.
You can only have one principal residence, and your principal residence is defined as the home in which you live, conduct your daily affairs, have your mail sent, and where you report as your residence to the government, medical, and matters as such.
Partial Home Owner Grants and Qualifications
The grant is reduced by $5 for every $1,000 of assessed value above the threshold, meaning eligible homeowners with properties assessed above the threshold receive a partial grant until it is fully phased out.
This means properties assessed up to $2,239,000 ($2,279,000 in a northern and rural area) can receive a partial regular grant. For the additional grant, properties assessed higher than $2,294,000 ($2,334,000 in a northern and rural area), are not eligible for a home owner grant.
Home Owner Grant Qualifications
There are requirements that you must meet in order to qualify for the home owner grant in BC. The requirements are as follows, you must:
- Live in British Columbia (BC)
- Occupy the house as your principal residence
- Be a Canadian citizen or permanent resident of Canada
- Be the registered owner of the residence, or be the spouse or relative of the deceased owner and at the date the owner passed away you both occupied the residence as your principal residence
If you do not meet all of the above requirements, then you cannot apply for the homeowner grant to reduce your property taxes.
There are also additional grants for seniors, those with disabilities, and veterans.
Additional Home Owner Grant Qualifications
There are also options for additional home owner grants.
To be eligible for an additional grant, a home owner must be one or more of the following:
- 65 years old, or older
- Receive a war veteran’s allowance
- A spouse or relative of a deceased owner who passed away this year and the owner would have been eligible as a senior or a person with disabilities
- Receiving provincial disability assistance, hardship assistance or a supplement under the Employment and Assistance for Persons with Disabilities Act
- A person with disabilities or you are living with a spouse or relative with disabilities
If you are eligible, you can receive an additional grant of $275 on top of the regular grant of $570, which would bring the total grant amount up to $845 or $1045 depending on which region you live in and what the base grant is.
If you qualify for an additional grant, you must also provide supporting documents.
For more information on the above grants, check out this site: Home Owner Grant BC
Frequently Asked Questions about the BC Homeowner Grant
If I buy or sell a property how will it affect the homeowner grant?
If you are buying or selling a property, there are other factors that will determine the amount that you can claim for the home owner grant.
If you purchased your property during the current tax year, you may be eligible for the home owner grant if you meet the following requirements:
- The previous owner didn’t pay all of the property taxes
- The previous owner didn’t claim the grant
- You didn’t receive a grant this year for another home
- You’re occupying the property when you apply for the grant
The home owner grant that you’re eligible to claim will be applied against only the property taxes that the previous owner didn’t pay. Contact the office that issued the property tax notice for more information on how much you can claim for your grant.
If I forgot to apply for the homeowner grant last year can I still apply for it retroactively?
Yes, you can apply for last year’s grant retroactively if you qualified for the grant on December 31st of the last year and you still are the registered owner.
Do I have to apply for the grant every year? Or is one time enough to receive it every year moving forward?
You need to apply for the grant every year. The reason for this is that your situation and the value of your property changes from year to year [you may still own the property but not live in it], so the previous year’s information cannot be relied on.
Furthermore, you’ll need to ensure that your homeowner grant application is submitted on time and before the property tax due date. Because the homeowner grant is a form of your property taxes, if you are late on the application then it is the same having a late payment for your property taxes.
Can two people apply for the grant for the same residence?
No, only one person can apply for the homeowner grant for the same residence each year. Whoever will be eligible for the highest grant should be the one to apply.