B.C. homeowner grant threshold rising to $2.125 million in 2023

The B.C. government has raised the threshold for the homeowner grant program in 2023 to $2.125 million to reflect rising property values.

The new level means the grants will cover roughly 92 per cent of residential properties in the province. In 2022, the threshold was $1.975 million.

Anyone below this year’s threshold will receive the full grant amount for which they are eligible, while properties worth more will have $5 deducted for every $1,000 in value over $2.125 million.

While the threshold has increased, the basic grant amounts are unchanged from 2022. Homeowners in Metro Vancouver, the Fraser Valley and Capital Regional districts is up to $570 and as much as $845 for those 65 or older and veterans, people who have a disability or who live with a relative who has a disability.

Homeowners in northern and rural areas, the basic grant amount is up to $770 or as much as $1,045 for those 65 or older and veterans, people who have a disability or who live with a relative who has a disability.