Change tax breaks for home owners: Metro Vancouver

The regional board will push for the change ahead of the provincial election in May

Assessments for Greater Vancouver homes have risen by 30-50 per cent.

Metro Vancouver is urging the province to revise the criteria for property-tax grants, saying soaring real estate prices have made fewer homeowners eligible for the tax break.

The regional board says it will push for the change ahead of the provincial election in May following an unprecedented rise in home prices.

B.C.’s basic homeowner’s grant reduces the amount of taxes paid on a primary residence by up to $570 for properties valued at $1.3 million or less.

The Real Estate Board of Greater Vancouver says the benchmark price of a detached home was $1.5 million last month, and B.C. Assessment is warning owners they may see their property assessments jump by as much as 50 per cent compared to last year.

The regional board says in a release that the region’s share of the homeowners’ grants issued has slipped over the past decade, from 53 per cent to 46.8 per cent.

Board’s vice-chairman Raymond Louie says the grant is intended to help people but is failing to do so in too many cases.

 

 

The Canadian Press

Just Posted

Surrey district cop station closed by sewer backup

People seeking criminal records checks and other services can get help at any of the other stations

SURREY EVENTS GUIDE for Sept. 19 and beyond

Concerts, festivals, plays and more in our weekly calendar

Giant-Hawk name swap for Major Midget League hockey teams

League leaders last year, Valley West squad starts season on the road this weekend

ELECTION QUESTIONS: How do candidates form their opinions on transit in Surrey?

Who is on the right side of Surrey’s transit debate? That’s for voters to decide come Oct. 20.

Surrey wants BNSF to slow Crescent trains

Mayor Linda Hepner said ‘it’s the least we can do’

64 cats seized from ‘bad situation’ now in BC SPCA care

The surrender is part of an ongoing animal cruelty investigation with BC SPCA Special Constable

B.C. hockey product eyes shot at Olympic spot with China

Fletcher is one of 24 who travelled to Shenzhen, China for the first official Olympic dev camp.

Are you feeling lazy? That’s OK – it’s just science

UBC study shows that humans are hardwired to prefer being sloth-like

LETTER: Who do we blame for the tragedy of Marrisa Shen’s death?

The B.C. girl was killed in a Burnaby park last July

Competition tribunal to hear B.C.-based case on airline food starting in October

The competition commissioner argued Vancouver airport authority had exploited its market position

Trudeau says Canada wants to see ‘movement’ before signing revised NAFTA deal

Foreign Affairs Minister Chrystia Freeland is back in Washington in search of a way to bridge divide

Seek compromise with U.S. on cannabis at border, lawyers urge Ottawa

U.S. Customs and Border Protection agency sent tremors through Canada’s burgeoning cannabis sector

Young people need us to act on climate change, McKenna tells G7 ministers

Catherine McKenna led off the three-day Halifax gathering Wednesday

UPDATE: Man arrested in shooting on Abbotsford street near Aldergrove

Nobody injured in shooting, which is not believed to be related to gang conflicts

Most Read