About Home Owner Grant
The purpose of the home owner grant is to help reduce the amount of residential property tax British Columbians pay. The home owner grant applies to taxes paid by British Columbians to their municipality or to the Surveyor of Taxes for rural areas.The grant is available to Canadian citizens or holder of permanent residency status in Canada, who live in British Columbia, and he or she must occupy the home as his/her principal residence.
The home owner grant program includes the following types of grants:
For 2011, the home owner grant will be reduced on higher-valued properties by $5 for each $1,000 of assessed value over $1,150,000. The basic grant is eliminated on homes assessed at $1,264,000 or more, and the additional grant is eliminated on homes of $1,319,000 or more.Continuing from the 2007 tax year, the home owner grant is provided to some
low-income homeowners or occupants who did not qualify for the additional grant because the property exceeded the assessed threshold value. See the Additional Grant for more details.
The grant must be applied for each year. If you live in an incorporated municipality, you must apply to your municipal tax collector. For rural areas, you must apply to the Surveyor of Taxes office or to a local Service BC Centre. Please see How to Apply for more information.
First Nations Land
Property taxes paid to a First Nations Band are levied under the authority of the federal Indian Act and are not considered provincial property taxes. Although these properties are not eligible for the provincial home owner grant, the First Nation may offer a similar grant program for its residents. Please see home owner grant for First Nations for more information.
http://www.sbr.gov.bc.ca/individuals/Property_Taxes/Home_Owner_Grant/about.htm
This is the great post here..and well good thinking of this one..
ReplyDeleteSell your house fast in the UK