VICTORIA, B.C. – The Province of British Columbia has confirmed the homeowner grant threshold for 2020.

According to the Province, the homeowner grant threshold for 2020 has been set at $1.525 million, maintaining that 92 percent of homeowners continue to be eligible for the B.C. Home Owner Grant.

The Government says the threshold is down from $1.65 million in 2019 due to moderating housing prices throughout the province.

While the threshold is down, the Province says it has again been set to ensure the same percentage of residential property owners are below the threshold and eligible for the full, basic grant amount.

The homeowner grant reduces the amount of property tax people pay to a municipality or to the Province for people who live in a rural area.

For more information and to apply for the Home Owner Grant, you can visit the Province’s website.