Paying property taxes? Save money with the Home Owner Grant
The Home Owner Grant reduces the amount of property tax you pay on your primary residence.
The Home Owner Grant threshold applies across the province. For the 2021 homeowner grant is set at $1.625 million.
- The $570 basic grant for homeowners in Metro Vancouver, the Fraser Valley Regional District, and Capital Regional District phases out at $1.739 million.
- The $770 basic grant for northern and rural area homeowners phases out at $1.779 million.
- The $1,045 grant for northern and rural area homeowners who are 65 years or older or are a person with a disability phases out at $1.834 million.
- 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.
Home Owner Grant and multi-family homes
If you have a laneway home or multi-family dwelling - for example, a duplex, triplex and fourplex - they may qualify as separate residences. A suite in a principal residence doesn’t qualify.
Partitioning the property value may enable a home owner to claim the home owner grant if the:
- home owner previously couldn’t, or could only claim a reduced grant, because of the high assessed value of your property, and
- property consists of your principal residence and at least one separate residence.
A property owner may apply to have the assessed value of their property partitioned. Learn more.
Home Owner Grant must be applied for every year
The grant isn’t provided automatically. Home owners must apply every year when they pay their property taxes.
Effective 2021, all home owner grant applications are submitted directly to the province. Property owners in municipalities no longer apply through their municipal office. Learn more.
Tax deferment programs
Home owners unable to pay their property taxes may be eligible to defer all or a portion of their property taxes.
The BC government provides property tax deferral programs for qualifying property owners, including seniors aged 55+, persons with disabilities, and families with children.
Deferment programs are low-interest loan programs that allow qualifying property owners to defer all or part of their property taxes until they sell or transfer ownership of their home, or it becomes part of an estate.
Home owners planning to participate in a tax deferment program should seek appropriate financial advice.