The BC government announced today that they’re raising the 2018 homeowner grant threshold to $1.65 million, keeping the same percentage of British Columbian homes below the threshold as last year.
In a release, the province says eligible homeowners must apply for the grant every year, and the home receiving the grant must be the homeowner’s primary residence. Homeowners may be eligible for the basic grant of $570, or $770 if the home is in a northern or rural area. Homeowners who are 65 years old and above or if they have a disability may be eligible for $845, or $1,045 if they live in a northern or rural area. The province says they expect the grants to return $825 million to British Columbians this year, and in the majority of BC communities, almost every home is valued below the threshold.
For more information on the grants, see the release here: https://news.gov.bc.ca/releases/2018FIN0001-000002