Thursday, January 6, 2022

As BC Assessment levels increase across Northwest BC, so too does BC Home Owner Grant threshold number

Just one day after the release of BC Assessment data for the province, the British Columbia Government announced what the 2022 Threshold number would be for the provincial Home Owner Grant., 

With the Government on Wednesday, marking the $1.975 million dollar mark as the high level for 2022.

As we outlined on Tuesday, BC Assessments in Prince Rupert for the most part rose by 31 percent, with a volume of housing over the 1 million dollar mark also rising for 2022, with eleven properties located on Graham Avenue alone,  valued at over 1 million dollars.

Levels for the assessments for the remainder of the northwest ranged from 17 percent to just over 40 percent.

For residents outside of the Lower Mainland, Fraser Valley and Capital region the Homeowner grant levels for 2022 could be is as much as $770 or as much as $1,045 for seniors or people who have a disability. 

The BC Government, which now handles the Property Grant Applications, as opposed to the past when it was applied for through City Hall, outlined on Wednesday how the application process works.

The fastest and easiest way to apply for the Home Owner Grant is on the B.C. government website. In 2021, 92% of applications were made securely online or through interactive voice recognition. People can also check online for their application status. Homeowners with more complex situations can get help over the phone at 1 800 663-7867 or at a ServiceBC Centre. 

 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. Assessment roll and jurisdiction numbers are needed to apply.

More notes on the Home Owner Grant announcement can be explored here.

The details of the program can be reviewed here.

The high level threshold of grants for properties of over one million dollar assessments is of note and some concern for advocates of affordable housing in the province. 

With many on Wednesday observing that the province should rethink how they allocate the homeowner grant program and instead redirect some of that money towards creating more housing for those in need across British Columbia.

More notes on Housing in the northwest can be explored from our archive page here.

Provincial government themes are available for review here.

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