Claim your home owner grant to reduce your property tax

Tax and utilities

The home owner grant is a provincial program that helps reduce the amount of residential property tax you pay.

2015 home owner grant threshold

In 2015 the home owner grant threshold of assessed value is $1,100,000 (no change from 2014). The grant is reduced by $5.00 for each $1,000 above the threshold.

  • The basic grant is eliminated when the assessed value reaches $1,214,000
  • The additional grant is eliminated when the assessed value reaches $1,269,000

If you have concerns about the threshold change, please contact the Province of BC's Home Owner Grant Administration Branch:

Be sure to apply each year

If you're eligible for the grant, the Province of BC reduces your taxes by the grant amount.

You must apply for your home owner grant each year (by the July due date of your main property tax bill) in order to avoid penalties.

You still need to claim your grant if you're paying your taxes through your mortgage, the tax instalment pre-payment plan, or through tax

deferment. Even if you can't pay the balance of your taxes for any reason, apply for the grant to reduce your tax amount.

Apply for the grant correctly to avoid unnecessary penalties

If you qualify for the grant, but don't complete the application correctly and completely, your grant can't be processed and the City won't receive the grant money from the Province of BC.

Your property tax account will show an unpaid amount and you will be charged a 5 per cent penalty on the outstanding property tax balance.

As well, if there is still a balance owing on January 1 of the following year, then daily interest will also be charged.

How to claim your home owner grant

Make sure we receive your claim by the tax due date to avoid a penalty.

Online – the fastest, easiest way to claim

You can also claim your grant by mail, by fax, and in person (see the contact information on this page).

 Is the due date less than one week away? Don't mail your claim because it may not be delivered on time.

Source: vancouver.ca

Category: Taxes

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