The BC government has increased the homeowner grant threshold by 33% from $1.2 million to $1.6-million. Finance Minister Michael de Jong says with property values generally rising across the province, the increase will help keep housing costs affordable for families.
He says that people who qualified for the grant last year should receive it again for 2017.
He notes there could be some circumstances where low-income earners are owners of homes that are above the threshold, but there are solutions for them.
The increase to the 2017 grant threshold means 91% of homes province-wide will remain below the threshold and if eligible, their owners will receive the full grant amount.