Increase coming for homeowner grants in B.C.: finance minister

Downtown Vancouver on Thurs. Dec. 22, 2017. Photo by Jonathan Hayward/The Canadian Press.

British Columbia's finance minister says the threshold to claim homeowner grants will be raised to help the tax burden on those whose property values have soared.

Mike de Jong wouldn't say what the new ceiling would be for the grant, only that he'd have more to announce in the next few days.

Currently, the program offers a grant of $570 to those who own and live in homes with an assessed value of under $1.2 million.

De Jong says the government wants to make sure that as many families benefit from the grant as possible.

Last week, the Finance Ministry said it was looking at increasing the $1.2 million limit after new property assessments showed the values of some homes jumped by as much as 50 per cent in areas of Metro Vancouver and on Vancouver Island.

De Jong raised the limit by $100,000 last year following soaring real estate prices.

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