Diane Cardoso

    Rise up- the Home Owner Grant threshold keeps pace with assessments

    For each of the past four years, the Real Estate Board's Goverment Relations (GR) Committee has asked the provincial government to raise both the threshold of the Home Owner Grant and the amount of the grant to reflect increases in assessed property values.

    Now, for the fourth consecutive year, the government has improved the grant.

    Earlier this month, Finance Minister Carole Taylor announced an increase of $170,000 in the threshold which means that owners of property assessed at up to $950,000

How do Property Assessments Work?  

Often there is a difference between the property value on the assessment notice and the market value determined by a realtor and often homeowners will ask why. What accounts for this difference? There are two reasons. The first has to do with when. The second has to do with how!

When: The assessment notice is BCA's estimate of a property's market value as of July 1, 2006. In comparison a realtors market value assessment is typically current. In our active local market, six months can mean many thousands of even tens of thousands of dollars.

How: BCA has a database of 1.781 million properties. When

Check out our new listings!

4704 48B Street, Ladner

4-5651 Lackner Crescent, Richmond